Chinese commemorate the 70th anniversary of victory over Japan (1/3)

A military parade was held today at the Tiananmen square in Beijing to commemorate the 70th anniversary of the victory in the war against Japan. It is likely that Chinese Prime Minister Xi Jinping intended to use this occasion to justify his communist party's regime and aimed to flaunt the Chinese military power and his own prestige. After Xi Jingping's speech, the Chinese military mobilized over 120,00 soldiers, displaying military equipment consisting of more than 40 types of tanks, missiles, and approximately 200 airplanes.

Xi Jingping has attempted to claim his country's right for being to be one of the leading countries to initiate the international order by appealing his ostentation through the display of their military power. However, despite inviting the international summits of over 50 countries, only 30 including the Russian President Putin and the Korean President Geun Hye were present. Taking into account the fact that none of the G7 members had shown up, Xi Jingping announced that China will be cutting down their her/its military power, reducing the number of soldiers by 30,000 as a sign of her/its willingness to contribute to the process of international peace/contribute to maintaining world peace.

Taking into account (the fact that) - this is fine, but you could also use "Acknowledging"

Acknowledging the non-attendance of G7 members