China, has announced to increase in the defence budget by 7.2 this year. The major announcement came amid the fact Beijing facing global challenges– whether in the Indo-Pacific region or others where the United States is giving a befitting reply to its every attempt to alter international settings.
In a draft budget report released on Sunday morning, it is estimated that President Xi Jinping-led government will spend nearly 1.55 trillion yuan ($224 billion).
Notably, this is too low when compared to the US which had announced spending more than $800 million– nearly four times what China announced on Sunday. Last year, it had boosted the budget by 7.1%.
Citing outgoing Premier Li Keqiang, CNN reported that the minister underscored that military spending is crucial for China in order to counter international pressure. “The armed forces should intensify military training and preparedness across the board, develop new military strategic guidance, devote greater energy to training under combat conditions and make well-coordinated efforts to strengthen military work in all directions and domains,” CNN quoted Li’s work report.
