China affirms openness and transparency of defense spending

“The Chinese government adheres to the policy of combining national defense and economic development, and sets a reasonable scale of defense spending based on national defense needs and the development level of the national economy,” Wu Qian, a spokesman for the Chinese Ministry of National Defense , said on March 9 in response to media questions about China's defense budget in 2024 on the sidelines of the second session of the 14th National People's Congress (NPC).

According to the published draft, China's defense budget in 2023 will increase by 7.2% to 1,550 billion yuan ($225 billion).

China to increase defense spending by 7.2% from 2023. (Photo: China Daily)

Earlier, on March 4, Wang Chao, spokesperson for the 14th National People's Congress, said that defense spending is determined based on considerations of defense capabilities and economic development levels. This is a common principle worldwide .

According to Mr. Wang, China's defense spending, as a proportion of GDP, has been basically stable for many years and is lower than the world average. The increase in defense spending is appropriate and reasonable.

Xinhua News Agency reported that China's defense spending in 2022 will reach 1.45 trillion yuan, up 7.1% from the 2021 budget. Meanwhile, the 2021 defense budget increased by 6.8% from 2020 to 1.35 trillion yuan, and the 2020 figure increased by 6.6% from 2019.

AFP said this is the second largest national defense budget in the world, after the US.

In recent years, in order to better safeguard its sovereignty, security and development interests and meet the needs of military transformation, China has maintained growth in defense spending, in line with its economic and social development goals, and promoted the coordinated development of defense capabilities and economic strength.

Kong Anh (Source: CGTN)

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