- Joined
- Mar 3, 2021
China on Wednesday increased its defense spending by 7.2% this year, the same growth rate as in the prior two years.
The increased defense budget, well above China’s economic growth target for this year of roughly 5%, comes as Western governments seek to ratchet up military spending to bolster their own security.
When asked on Tuesday about China’s defense spending, Lou Qinjian, spokesperson for the third session of the 14th National People’s Congress, told reporters that “peace needs to be safeguarded with strength.”
That’s according to an official translation of his Mandarin-language remarks.
China remains the world’s second largest military spender behind the U.S. which has set the military budget for 2025 at $850 billion.
Separately, expenditures earmarked for public security this year was raised by 7.3%, the official statement showed, a sharp increase compared with the 1.4% rise last year.
