Beijing: China will increase defense spending by 7.2% this year, faster than the government's forecast of modest economic growth and slightly faster than last year's increase. Premier Li Keqiang urged the armed forces to improve their combat readiness.
China's neighbors and Washington are closely watching the 1.55 trillion yuan ($224 billion) military spending included in the national budget, which was released on Sunday. This figure is a measure of how aggressively the country will strengthen its military.
This year's growth marks the eighth consecutive year of single-digit growth. No analysis of spending was given, as in previous years, only overall totals and growth rates.
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Due to domestic headwinds, the world's second-largest economy is expected to grow only about 5% this year, slightly below the 5% target set for the previous year.
Beijing is concerned about threats on various fronts, such as Chinese claims to Taiwan and US air and naval operations near Chinese-occupied islands in the disputed South China Sea.
Last August, China conducted war drills close to Taiwan to vent its displeasure over Nancy Pelosi, the US House Speaker at the time, visiting Taipei.
In his work report to the annual session of parliament, Li said that military operations, capacity building and war preparation should be "well-coordinated to accomplish major tasks".
In his State-of-the-Country address to a largely rubber-stamp legislature, he called on our armed forces to conduct military operations, enhance war preparedness and improve military capabilities, with a focus on the goals of People's Liberation should be concentrated. 2027.
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With the largest army in terms of personnel, China is currently getting a ton of new equipment, such as aircraft carriers and stealth fighters.
Its development and Beijing's strategic intentions have raised concerns in the region and in Washington, especially given the increase in tensions over Taiwan in recent years.
Beijing claims its critics want to portray it as a threat to global peace, despite the fact that its military spending for defensive purposes is a relatively small percentage of its GDP.
Li said, "The armed forces should enhance their general military training and readiness, develop new military strategic guidance, devote more time to combat training, and make coordinated efforts to strengthen military work in all directions and areas." Needed." ,
