March 5, 2023
1 min read

China to hike defence budget


Under Xi Jinping’s leadership, China has continued to significantly expand and overhaul its military..reports Asian Lite News

China’s military budget is set to increase again, the spokesperson for its “rubber-stamping” parliament has said, before a week-long political meeting expected to make big changes to China’s system of governance and increase measures to combat international sanctions, a media report said.

The spokesperson for the National People’s Congress, China’s legislative body, addressed the media on the eve of its annial meeting to outline the week’s agenda, including changes to the constitution and the legal sector, and endorsing new appointments to senior roles, The Guardian reported.

Wang Chao said that the defence budget rises as a proportion of GDP had been moderate and below global averages. Last year’s 1.45 trillion yuan (190 billion pound) budget was a rise of 7.1 per cent and followed a rise of 6.8 per cent in 2021 and 6.6 per cent in 2020, the media outlet reported.

Wang did not say by how much the budget would increase, but said it was “appropriate and reasonable” and was needed for China to meet complex security challenges and to “fulfil its responsibilities as a major country”.

“The modernisation of China’s military will not pose a threat to any country,” Wang said. “On the contrary, it will only be a positive force for safeguarding regional stability and world peace.”

Under Xi Jinping’s leadership, China has continued to significantly expand and overhaul its military. However, information about actual spending compared with budget announcements remains opaque, with the US defence department estimating it could be 1.1 to 2 times higher.

ALSO READ: Biden expected to tighten rules on US investment in China

Previous Story

Metsola praises the “brave people” of Ukraine

Next Story

Breather for Pakistan as China approves $1.3b rollover

Latest from -Top News

Lanka Marks Next Phase of Indian Housing Drive

Phases III and IV of the Indian Housing Project highlight India’s commitment to supporting and empowering Sri Lanka’s Indian-origin Tamil community….reports Asian Lite News Sri Lankan President Anura Kumara Dissanayake on Sunday

China’s Grab for Africa

China’s investments aim to strengthen its geopolitical influence and its high-tech manufacturing sector in Africa…reports Asian Lute News China is further consolidating its dominance in the rare earth elements sector by expanding

Pakistan Courts in Peril

The question now is whether Pakistan’s courts can continue to function as guardians of the law, or whether they will be reduced to instruments of control…reports Asian Lite News Pakistan judiciary’s independence

Trump to Fix the World, Again

Trump said, “Think about India, Pakistan… wars lasting decades with millions killed. I got most of them done, pretty much, within a day. It’s pretty good.”…reports Asian Lite News US President Donald
Go toTop

Don't Miss

China presents its position on Russia-Ukraine crisis

China said that “it has always disapproved of willfully invoking

Biden clears stand on Taiwan-China tensions

Biden has made similar statements in the past, only to