China will boost defence spending by 7.2% this year, slightly outpacing last year's increase and faster than the government's modest economic growth forecast, as Premier Li Keqiang called for the armed forces to boost combat preparedness.
This year's hike in defence spending marks the eighth consecutive single-digit increase. As in previous years, no breakdown of the spending was given, only the overall amount and the rate of increase.of around 5%, which is slightly below last year's target as the world's second-largest economy faces domestic headwinds.
Li Mingjiang, associate professor at S. Rajaratnam School of International Studies in Singapore, said defence spending outpacing the economic growth forecast showed China anticipates facing greater pressures in its external security environment, especially from the United States and on the Taiwan issue.
"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," Premier Li said. China's reported defence budget in 2023 is around one quarter of proposed U.S. spending, though many diplomats and foreign experts believe Beijing under-reports the real number.$858 billion in military spending and includes funding for purchases of weapons, ships and aircraft, and support for Taiwan and for Ukraine as it fights an invasion by Russia.
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