China to increase defense spending
China will increase defense spending by 7.2% in 2024, Azernews reports, citing foreign media outlets.
It was reported at the opening of the 2nd session of the National People's Congress (NPC, Parliament) of the 14th convocation.
"In 2024, China's defense spending will increase by 7.2%," the government officials said.
As the official representative of the 2nd session of the National People's Congress of the 14th convocation, Low Qingjian, clarified earlier, China maintains "reasonable and steady growth in defense spending."
According to him, Beijing determines the size of the military budget taking into account national development interests, "in order to protect sovereignty and security."
In 2023, at the 1st session of the National People's Congress of the 14th convocation, the State Council of the People's Republic of China announced that budget expenditures on defense will increase by 7.2%, to 1.553 trillion yuan (about $224.85 billion). In 2021 and 2022, the Chinese authorities increased them by 6.8% and 7.1%, respectively.
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