China is increasing its military budget
The defense budget will be increased by 7.2 percent and will amount to about 232 billion dollars, according to the draft budget published today at the opening session of the All-China People's Congress.
China will continue to… pic.twitter.com/R8mKhp842t
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- China is set to increase its defense spending by 7.2% to 1.67 trillion yuan in 2024, according to a Ministry of Finance budget report.
- China’s 2024 military budget expansion follows a 7.2% increase last year, a 7.1% spike in 2022, 6.8% increase in 2021, 6.6% climb in 2020 and 7.5% growth in 2019, according to official data.
- In the government’s work report also released Tuesday, Beijing vowed to “resolutely oppose separatist activities aimed at ‘Taiwan independence’ and external interference.”