China Hikes Defense Budget By 7.2%

China has announced a 7.2% increase in its defense budget for the coming year, up slightly from last year’s 7.1% rate of increase, the Associated Press (AP) reported.

Photo Insert: The 2-million-member People’s Liberation Army (PLA) is the military wing of the ruling Communist Party, commanded by a party commission led by president and party leader Xi Jinping.

The increase marks the eighth consecutive year of single-digit percentage point hikes in what is now the world’s second-largest military budget. The 2023 figure was given as 1.55 trillion yuan ($224 billion), roughly double the figure from 2013.

Along with the world’s biggest standing army, China has the world’s largest navy and recently launched its third aircraft carrier. According to the US, it also has the largest aviation force in the Indo-Pacific, with more than half of its fighter planes consisting of fourth or fifth-generation models.

China also boasts a massive stockpile of missiles, along with stealth aircraft, bombers capable of delivering nuclear weapons, advanced surface ships and nuclear-powered submarines.

The 2-million-member People’s Liberation Army (PLA) is the military wing of the ruling Communist Party, commanded by a party commission led by president and party leader Xi Jinping.

China spent 1.7% of GDP on its military in 2021, according to the World Bank, while the US, with its massive overseas obligations, spent a relatively high 3.5%. The increase comes at a time when the US announced the sale of munitions to Taiwan worth $619 million.

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