China wants to increase military spending by 7.2 percent

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China’s military spending is expected to increase by 7.2 percent. This is a significant increase to the equivalent of CHF 211 billion.

The accompanying draft budget was presented on Sunday at the start of the week-long annual meeting of the People’s Congress in Beijing. The increase in expenditures for the modernization of the People’s Liberation Army is greater than the increase in total expenditures.

Expansion is viewed with concern worldwide

In his report to the nearly 3,000 deputies in the Great Hall of the People, Premier Li Keqiang called for an expansion of the armed forces, which should “strengthen their combat readiness and improve their military capabilities”. A speaker at the conference had justified the increase the day before with “complex security challenges” and China’s “responsibility as a great power”.

Given Beijing’s mounting threats against the democratic island republic of Taiwan, China’s disputed territorial claims in the East and South China Seas, and increased rivalry with the US, the increasing expansion of China’s armed forces is viewed with concern worldwide.

China’s defense budget has always grown faster than total spending in recent years – by 7.1 percent in the previous year. The increase was also usually higher than the growth rate of the economy. However, according to experts, the official military budget only reflects part of the actual expenditure, as much of the expenditure for the People’s Liberation Army is also covered by other budgets. (SDA)

Source: Blick