China discusses military budget while warning of escalating threats
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Loading... - Robert Noor
- 06 Mar 2023
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China says it will increase military spending by more than 7% this year, while warning of "escalating" threats.
It was announced at the National People's Congress (NPC), a rubber-stamp parliament, which is due to confirm President Xi Jinping's third term.
Beijing's stated military budget - around $225bn (£186bn) - is dwarfed by that of the United States, which is four times greater.
But analysts believe China downplays how much it spends on defence.
In the past decade, China's defence budget has risen by about 10% each year, with 2014 seeing the highest increase of 12.2%.
Outgoing Premier Li Keqiang wrote in his report that "external attempts to suppress and contain China are escalating".
"The armed forces should intensify military training and preparedness across the board," he wrote.
It was also announced at the meeting that China would pursue a reduced economic growth target of about 5% this year.
The Two Sessions, as the meetings are known, are an annual affair.
But this year's sessions are particularly significant as delegates are expected to reshape several key Communist Party and state institutions.
This week's NPC meeting will also formalise Mr Xi's leadership of the country, as he will be elected president of China and head of the armed forces.
He secured his position in the echelons of Chinese power in October last year, when the Communist Party re-elected him as their leader for a third term. Read More…
