China increases defense budget for 9th time

Opening ceremony of the second session of the 14th National People's Congress ( NPC ) on March 5

The official figure for China's defense spending was announced at the opening session of the Second Session of the 14th National People's Congress (NPC) at the Great Hall of the People on March 5, Xinhua news agency reported.

China's 2024 defense budget will see a similar increase to 2023 at 7.2%, while the 2022 budget will increase by 7.1%, 2021 by 6.8%, 2020 by 6.6% and 2019 by 7.5%, according to official figures from Beijing.

Thus, China has continuously increased its defense budget for 9 consecutive years and is now second only to the US in the world .

Also according to the Government's work report announced by Premier Li Qiang before all nearly 3,000 delegates of the Chinese National Assembly, the country aims to "resolutely promote the cause of national reunification" when referring to Taiwan, replacing the phrase " peaceful unification" mentioned in reports of previous sessions.

The Chinese government also targets economic growth of around 5% by 2024, in an effort to promote reform of the development model, curb overcapacity in industrial production, resolve risks in the real estate sector and cut wasteful budget spending in localities, according to Premier Li.

The second session of the National People's Congress this year will last from March 5-11.

How will world security and defense develop?

Source link: https://thanhnien.vn/trung-quoc-lan-thu-9-tang-ngan-sach-quoc-phong-185240305093702664.htm