The Fort Worth Press - China says to hike defence spending by 7.2% this year

USD -
AED 3.672501
AFN 64.485622
ALL 81.549749
AMD 361.430444
ANG 1.789785
AOA 917.99947
ARS 1513.248302
AUD 1.433795
AWG 1.8
AZN 1.701095
BAM 1.747405
BBD 2.013572
BDT 123.421934
BGN 1.747831
BHD 0.37766
BIF 2995
BMD 1
BND 1.282034
BOB 11.711836
BRL 5.041198
BSD 0.999772
BTN 95.182957
BWP 13.733399
BYN 3.020865
BYR 19600
BZD 2.010641
CAD 1.421365
CDF 2312.520298
CHF 0.83205
CLF 0.025036
CLP 985.36034
CNY 6.69275
CNH 6.693545
COP 3196.93
CRC 455.660238
CUC 1
CUP 23.993531
CVE 99.404736
CZK 21.771992
DJF 177.719961
DKK 6.68041
DOP 61.249753
DZD 134.533389
EGP 53.067426
ERN 15
ETB 161.130477
EUR 0.89371
FJD 2.26455
FKP 0.754659
GBP 0.756045
GEL 2.597547
GGP 0.754659
GHS 11.664996
GIP 0.754659
GMD 73.999665
GNF 8799.999943
GTQ 7.639869
GYD 209.069102
HKD 7.847785
HNL 26.95013
HRK 6.732599
HTG 130.910423
HUF 325.206958
IDR 17930.35
ILS 3.097596
IMP 0.754659
INR 95.15175
IQD 1513
IRR 1790499.999928
ISK 121.920114
JEP 0.754659
JMD 158.765613
JOD 0.70898
JPY 157.930248
KES 129.779826
KGS 87.450163
KHR 4071.99991
KMF 441.999636
KPW 899.999961
KRW 1341.910271
KWD 0.31165
KYD 0.833099
KZT 451.695332
LAK 22499.999977
LBP 89549.99985
LKR 330.891222
LRD 170.749848
LSL 16.490129
LTL 2.95274
LVL 0.60489
LYD 6.429535
MAD 9.747029
MDL 17.89398
MGA 4499.999495
MKD 55.199462
MMK 2100.02843
MNT 3599.679138
MOP 8.081626
MRU 40.220079
MUR 47.610274
MVR 15.459906
MWK 1741.999788
MXN 18.473045
MYR 4.084099
MZN 63.910111
NAD 16.489766
NGN 1330.050088
NIO 36.849829
NOK 9.49815
NPR 152.293053
NZD 1.784099
OMR 0.384484
PAB 0.999736
PEN 3.430498
PGK 4.45175
PHP 62.907991
PKR 277.035036
PLN 3.906445
PYG 5704.585558
QAR 3.640169
RON 4.768703
RSD 104.962028
RUB 83.624996
RWF 1475
SAR 3.74237
SBD 8.078071
SCR 13.936404
SDG 601.497355
SEK 9.988495
SGD 1.28391
SHP 0.754518
SLE 24.669916
SLL 20969.504398
SOS 571.501784
SRD 37.711972
STD 20697.981008
STN 21.975
SVC 8.747783
SYP 13001.999685
SZL 16.490294
THB 33.633008
TJS 9.227237
TMT 3.5
TND 3.3035
TOP 2.40776
TRY 49.414402
TTD 6.799166
TWD 32.203098
TZS 2630.002993
UAH 44.933885
UGX 4039.293995
UYU 40.187267
UZS 11951.499896
VES 875.701604
VND 25897
VUV 119.372685
WST 2.788609
XAF 586.235332
XAG 0.01792
XAU 0.000242805963
XCD 2.70255
XCG 1.801832
XDR 0.707052
XOF 586.235332
XPF 106.874987
YER 236.200463
ZAR 16.58286
ZMK 9001.197676
ZMW 19.868757
ZWL 321.999592
SSP 5748.524006
MXV 2.086037
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

China says to hike defence spending by 7.2% this year
China says to hike defence spending by 7.2% this year / Photo: © AFP

China says to hike defence spending by 7.2% this year

China's defence spending will rise by 7.2 percent in 2025, the same as last year, Beijing said on Wednesday, as its armed forces undergo rapid modernisation and eye deepening strategic competition with the United States.

Text size:

The country's expenditure on its armed forces has been on the rise for decades, broadly in line with economic growth.

China has the world's second-largest military budget, but lags well behind the United States, its primary strategic rival.

Despite this, the People's Liberation Army (PLA) surpasses the US military by number of personnel.

Beijing's 1.78-trillion-yuan ($245.7-billion) defence budget for this year is still less than a third of Washington's.

China's military spending last year made up 1.6 percent of its GDP, far less than the United States or Russia, according to the Stockholm International Peace Research Institute.

But its defence expansion is viewed with suspicion by Washington, as well as other powers in the region including Japan, with which Beijing has a territorial dispute over islands in the East China Sea.

China has also increasingly flexed its muscles in the South China Sea, which it claims almost entirely despite an international arbitration ruling that declared its stance baseless.

Beijing's spending boost is also a cause for concern for self-ruled Taiwan, which Beijing says is part of its territory to be claimed by force if necessary.

- 'Growing uncertainties' -

The budget hike comes as thousands of delegates congregate in Beijing for the opening session of the National People's Congress, the second of China's "Two Sessions" meetings this week.

Speaking at that session, Premier Li Qiang vowed that China would "resolutely oppose separatist activities aimed at Taiwan independence and external interference, so as to promote the peaceful development of cross-Strait relations".

China describes its military stance as "defensive" and aimed at preserving its sovereignty.

But its sweeping territorial claims over areas controlled by other governments have raised fears of a regional clash.

Chin-Hao Huang, Associate Professor at the National University of Singapore, told AFP the hike took place in the context of "growing uncertainties in China's external environment and domestic security priorities".

"The defence budget increase reflects the need to maintain and upgrade the PLA's military capabilities to keep pace and be ready for all contingencies," he said.

The announcement also comes as Europeans are considering significantly increasing their military budgets in the face of American disengagement from their region.

"As the geopolitical tension between China and the US increases, China cannot slow down its military expenditures," said Niklas Swanstrom, director of the Sweden-based Institute for Security and Development Policy.

L.Davila--TFWP