China's Defence Spending Set to Rise by 7.2% This Year

Recently, China has announced a significant increase in its defence budget, marking a 7.2% rise from the previous year. The new defence expenditure for this year is projected to be around USD 249 billion, which translates to approximately 1.784665 trillion yuan. This announcement was made during a budget report presented by Premier Li Qiang to China’s Parliament.

In the past year, China's defence budget was also raised by 7.2%, bringing it to about USD 232 billion, or 1.67 trillion yuan. Notably, this amount is reported to be over three times greater than India's defence budget, highlighting China's ongoing commitment to modernising its military capabilities.

The figures related to China's defence spending often get scrutinised due to the extensive military upgrades the country is undertaking. These include the construction of advanced naval ships, the development of aircraft carriers, and the rapid improvement of stealth aircraft. Such actions are happening at an accelerated pace as China seeks to enhance its military strength and global standing.

As China continues to grow its military capabilities, its defence spending reflects not only national security concerns but also its aspirations on the international stage.

China, Defence, Spending