China to increase defense budget by 7.2% in 2023
China says it will increase defense spending by 7.2% in 2023, up from 7.1% last year, as its outgoing prime minister warns of growing 'external' threats to the rise of Beijing.
The country is expected to spend 1.550 billion yuan ($225 billion) on defense this year, according to a finance ministry report released on the opening day of the country's annual parliament session.
>The increase is slightly higher than last year and broadly in line with the overall pace of annual growth, but exceeds the annual GDP growth target of around 5% announced in a separate report.
Beijing's military budget is the second largest in the world after that of the United States and last year stood at 1.45 trillion yuan ($210 billion), although many foreign analysts say that far more money is being spent than officially announced.
China's defense spending still pales in comparison to the United States, which has allocated more than $800 billion to its military this year.
Beijing has invested billions of dollars in defense modernization in recent years, with the aim of transforming its huge military into a world-class force rivaling the United States and other Western powers.
>Military tensions have escalated over the past year between China and the United States, particularly over the status of Taiwan.
Washington diplomatically recognizes China rather than Taiwan, but maintains de facto relations with Taipei and supports the island's right to decide its own future.
In a separate speech on Sunday to present the government work report, outgoing Chinese Premier Li Keqiang warned that "external attempts to suppress and contain China are intensifying".
"The armed forces should intensify military training and readiness at all levels, devote more energy to training under combat conditions, and strengthen military work in all directions and areas", he said.
Li made a standard reference to opposing "separatism" in Taiwan and formal independence for the island, repeating Beijing's longstanding position.
"We should promote the peaceful development of cross-strait relations and advance China's peaceful reunification process," he said.
China has also clashed with Japan over competing claims to the uninhabited Senkaku Islands – known as Diaoyu in Chinese – and engaged in deadly brawls with Indian soldiers over swathes of disputed territory high in the Himalayas.
AFP
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China says it will increase defense spending by 7.2% in 2023, up from 7.1% last year, as its outgoing prime minister warns of growing 'external' threats to the rise of Beijing.
The country is expected to spend 1.550 billion yuan ($225 billion) on defense this year, according to a finance ministry report released on the opening day of the country's annual parliament session.
>The increase is slightly higher than last year and broadly in line with the overall pace of annual growth, but exceeds the annual GDP growth target of around 5% announced in a separate report.
Beijing's military budget is the second largest in the world after that of the United States and last year stood at 1.45 trillion yuan ($210 billion), although many foreign analysts say that far more money is being spent than officially announced.
China's defense spending still pales in comparison to the United States, which has allocated more than $800 billion to its military this year.
Beijing has invested billions of dollars in defense modernization in recent years, with the aim of transforming its huge military into a world-class force rivaling the United States and other Western powers.
>Military tensions have escalated over the past year between China and the United States, particularly over the status of Taiwan.
Washington diplomatically recognizes China rather than Taiwan, but maintains de facto relations with Taipei and supports the island's right to decide its own future.
In a separate speech on Sunday to present the government work report, outgoing Chinese Premier Li Keqiang warned that "external attempts to suppress and contain China are intensifying".
"The armed forces should intensify military training and readiness at all levels, devote more energy to training under combat conditions, and strengthen military work in all directions and areas", he said.
Li made a standard reference to opposing "separatism" in Taiwan and formal independence for the island, repeating Beijing's longstanding position.
"We should promote the peaceful development of cross-strait relations and advance China's peaceful reunification process," he said.
China has also clashed with Japan over competing claims to the uninhabited Senkaku Islands – known as Diaoyu in Chinese – and engaged in deadly brawls with Indian soldiers over swathes of disputed territory high in the Himalayas.
AFP
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