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

Munir-Trump Talks Last Over Two Hours

Reports suggest that the US Secretary of State Marco Rubio and US Special Representative for Middle Eastern Affairs Steve Witkoff also took part in the meeting…reports Asian Lite News Pakistan’s Army Chief

Pakistan’s Federal Budget Draws Flak

HRCP Secretary-General Harris Khalique expressed disappointment with the Pakistani Finance Minister’s failure to raise the minimum wage…reports Asian Lite News The Human Rights Commission of Pakistan (HRCP) has severely criticised country’s federal

Ax-4 Launch Delayed Again

A new date to be announced in the coming days….reports Asian Lite News The launch of Axiom Mission 4 (Ax-4), the fourth private astronaut flight to the International Space Station (ISS), has

Trump to Weigh Iran Action Soon

Trump approved attack plans on Iran on Tuesday night, but held off making a final decision…reports Asian Lite News US President Donald Trump will make a decision on whether he will order

Yunus Govt Faces Heat Over ‘Black Law’

The protest led by the Bangladesh Secretariat Officers and Employees Unity Forum threatened to intensify their actions if the demands were not addressed…reports Asian Lite News Several officials and employees at Bangladesh’s
Go toTop

Don't Miss

Beijing alleges US media driving wedge between China, Russia on Ukraine

According to a report, Chinese President Xi Jinping had allegedly

CPEC: Gilgit-Baltistan Pays the price for China’s Greed

In a way, China-driven by its greed for power and