The PLA which was 4.5-million strong till 1980 was first resized to three million in 1985 and later to 2.3 million.
China also hiked its defence budget this year to a whopping $175 billion, three times higher than that of India.
The PLA also announced last year that it would reduce its ground troops to less than a million as part of Chinese military modernisation plan under which the navy has been given greater role to expand China's global influence.
The troops cut also came in the backdrop of a massive anti-corruption drive carried out by Xi, who also heads the military in which over 3,000 personnel including over 50 top Generals were removed and punished.
Xi also carried out a massive restructuring plan integrating several commands and creating a Rocket Force and the Strategic Support Force for the missile launches.
Ren also hinted that reforms of the military will continue.
"However, the comprehensive reform plan is still ongoing," he said, adding that the related information will be released in due course.
The present military reform plan has made "very considerate arrangements to downsize the military", he said.
"At the same time, we are working arduously to build on lean military force," he said.
"We are working to reduce the quantity to improve the quality to optimise our force structure to streamline our headquarters and non-combat staff to phase outdated equipment and to facilitate the transformation of the PLA (People's Liberation of Army) from a military focussed on quantity and scale to the one focussing on quality and efficiency," he said.
From manpower intensive to high-tech intensive was the essence of the modernisation of the defence and the military, he said.
"I also want to emphasise that China has always adhered to path of peace development, defensive policy and it has always been and will always be a force to maintain peace in the world and region," he added.