China increases defense budget by 7.2%

(CLO) China has just announced a 7.2% increase in this year's defense budget, keeping the same growth rate compared to 2024, as the country continues to push forward with military modernization amid escalating geopolitical tensions.

China's defense budget will rise to 1.78 trillion yuan ($245.6 billion) by 2025, according to a draft budget released on Wednesday, as Premier Li Qiang prepares to deliver a government work report at the opening session of the National People's Congress (NPC).

Chinese destroyer. Photo: X

The figure is announced annually at the two sessions, which include the NPC and the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body.

This is the 10th consecutive year that China's defense budget has maintained a single-digit increase. Last year, Beijing also increased its defense budget by 7.2%.

In 2022, Chinese President Xi Jinping announced that the country aimed to "basically complete national defense and military modernization" by 2035 and build a "world-class military" by the middle of this century.

He also stressed that military modernization is a key factor to "protect national sovereignty, security and development interests".

Cao Phong (according to CNA, SCMP)

Source: https://www.congluan.vn/trung-quoc-tang-ngan-sach-quoc-phong-them-72-post337133.html