China increases defense budget for 9th time

Opening ceremony of the 2nd 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 reported.

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

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 to 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 reunification" 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.

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