China has recently announced a 7.2% increase in its defense budget, totaling 1.55 trillion yuan (approximately USD 225 billion). This marks the eighth consecutive year of growth in military spending for the nation.
Compared to last year's budget of 1.45 trillion yuan, this year's increase represents a marginal uptick. However, when considering the appreciation of the dollar against the yuan, the figure translates to approximately USD 225 billion, slightly lower than the previous year's USD 230 billion.
The consistent rise in military spending underscores China's ongoing commitment to strengthening its armed forces. Premier Li Keqiang, in his report to the National People's Congress, lauded the achievements of the armed forces, highlighting their efforts in border defense, maritime security, counterterrorism, disaster relief, and other critical areas.
The reference to "major missions relating to border defense" is particularly noteworthy in light of past tensions along the Line of Actual Control with India. Despite diplomatic efforts to resolve these disputes, including 17 rounds of high-level military talks, significant challenges persist.
While China's defense budget remains the world's second-largest after the United States, it continues to outpace neighboring countries like India, whose defense budget for the corresponding period stands at USD 72.6 billion.
The modernization of the People's Liberation Army (PLA), comprising two million personnel, remains a key focus for China. Under the leadership of President Xi Jinping, the PLA has embarked on an ambitious modernization drive, with the goal of achieving parity with the US armed forces in the coming years.
Notably, China's navy has expanded rapidly, boasting three aircraft carriers, while its air force continues to modernize with advanced fighter jets, including stealth technology.
Premier Li emphasized the importance of enhancing national defense mobilization capabilities and military readiness to safeguard China's sovereignty and development interests effectively.
China's defense spending, despite steady increases, remains proportionally lower than the world average in relation to GDP, as stated by NPC spokesman Wang Chao. He reiterated China's commitment to using its military modernization as a force for regional stability and global peace, emphasizing that it poses no threat to other nations.
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