BEIJING: China on Sunday announced a 7.2 percent increase in its defense budget for the coming year, just 0.1 percent higher than in 2022.
That marks the eighth consecutive year of single-digit percentage increases in what is now the second largest military budget in the world. The figure for 2023 was given as 1.55 trillion yuan (USD 224 billion).
In addition to the world’s largest standing army, China has the world’s largest navy and recently launched its third aircraft carrier. It also has the largest aviation force in the Indo-Pacific, according to the US, with more than half of its combat aircraft consisting of fourth or fifth generation models.
China also has a huge stockpile of missiles, along with stealth aircraft, nuclear-delivery bombers, advanced surface ships, and nuclear-powered submarines.
That marks the eighth consecutive year of single-digit percentage increases in what is now the second largest military budget in the world. The figure for 2023 was given as 1.55 trillion yuan (USD 224 billion).
In addition to the world’s largest standing army, China has the world’s largest navy and recently launched its third aircraft carrier. It also has the largest aviation force in the Indo-Pacific, according to the US, with more than half of its combat aircraft consisting of fourth or fifth generation models.
China also has a huge stockpile of missiles, along with stealth aircraft, nuclear-delivery bombers, advanced surface ships, and nuclear-powered submarines.
