Story highlights Despite huge advances, China's military suffers from "serious weaknesses"

These could limit its ability "to fight and win future wars"

Shortcomings affect its organization and its combat capability

Hong Kong (CNN) Despite huge advances, China's military suffers from "serious weaknesses" that could limit its ability "to fight and win future wars," a congressional study released this week suggests.

The 184-page report sponsored by the U.S. Congress-mandated U.S.-China Economic and Security Review Commission and prepared by the Rand Corporation, says the People's Liberation Army has made rapid progress in a short time.

However, weaknesses in its organizational structure -- including corruption among its ranks -- and in its combat capabilities mean it faces serious challenges.

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"These shortcomings could limit its ability to successfully conduct the information-centric, integrated joint operations Chinese military strategists see as required to fight and win future wars," the report said.

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