Advertisement
China ramps up defence spending by 7.1 per cent but how does it compare with other countries?
- Increase is the seventh single-digit rise in a row, up from 6.8 per cent last year
- Premier Li Keqiang pledges to improve military training and combat readiness for the People’s Liberation Army
Reading Time:3 minutes
Why you can trust SCMP
35
China’s defence spending is expected to grow by 7.1 per cent this year, the fastest pace since 2019, as it ramps up its military modernisation efforts amid an intensifying rivalry with the West.
The spending estimate was released on Saturday as part of the central government’s finance report and came as Premier Li Keqiang pledged to improve military training and combat readiness for the People’s Liberation Army.
In his address to the opening session of the National People’s Congress, Li told deputies that the military needed to safeguard the country.
“We will enhance military training and combat readiness, stay firm and flexible in carrying out our military struggle, and safeguard China’s sovereignty, security and development interests,” Li said.
Li said China would move faster to modernise the military’s logistics and asset management systems, and build a modern weaponry and equipment management system.
01:56
Mighty Dragon: China’s upgraded J-20 stealth fighter
Mighty Dragon: China’s upgraded J-20 stealth fighter
The increase in defence spending would take the budget to 1.45 trillion yuan or around US$230 billion, and is up from a 6.8 per cent increase in 2021 and a 6.6 per cent rise in 2020.
Advertisement