China revealed a 7.2% rise in its defense budget, now standing at 1.6 trillion yuan ($222 billion), making it the world's second-largest after the United States. This increase aligns with the growth seen in the previous year. The escalating tensions with the U.S., Taiwan, Japan, and neighboring countries with claims in the South China Sea are driving the development of advanced military technologies, including stealth fighters, aircraft carriers, and a growing nuclear arsenal.
The official budget figure, disclosed at the commencement of the annual legislative session, represents only a portion of the actual spending by the People’s Liberation Army. The military, under the Communist Party's leadership, allocates funds for research, development, and foreign weapons acquisitions.
Premier Li Qiang emphasized the commitment to modernize national defense and armed forces, bolstering integrated national strategies and strategic capabilities. The assembly, comprising around 3,000 carefully chosen participants loyal to the Communist Party and President Xi Jinping, received this assurance.
China's defense budget has more than doubled since 2015, despite a notable slowdown in economic growth. The country's aspirations to challenge the U.S. and its allies in Asia, such as Japan, South Korea, the Philippines, and Australia, regarding territorial disputes, regional dominance, and global influence, are evident in this budget increase.
China's strategic moves in the defense sector are closely watched by global observers, given its growing military prowess and ambitions in the Asia-Pacific region.
