PLAGF is a large army that has been updating its equipment very quickly in the past 30 years. They don't have much useful cold war equipment to make the troops "look capable"Do PLAGF *actually* have the least funding? From what I heard funding is split mostly equally between the three major branches. Other than infantry PLAGF is doing pretty well off with a dozen of new types of IFV with advanced systems such as GL-6 APS and unmanned turrets coming into service and next gen MBT is on the horizon also Z-XX heavy attack heli is coming soon. These are all big ticket items also equipping a mechanised brigade with all the latest equipment is no cheaper than a naval destroyer etc and with the most service member of all branches just trying to pay everyone's wage probably amount to a huge sum.
Infantry is basically a low priority for funding, regardless of branch. The infamous paratrooper PC purchased for only $70, and the QMK-171, which is similar in performance to the ACOG, only costs $100. On the one hand, some of the equipment is really bad, and on the other hand, it is really cheap.