China hikes defence budget for 8th consecutive year with 7.2 per cent increase to USD 225 billion
Admin
Mar 11, 2023 11:59
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China on Sunday hiked its defence budget by 7.2 per cent, marginally higher than last year, to 1.55 trillion yuan (about USD 225 billion), marking the eighth consecutive year of increase in its military spending, amidst global unease about the PLA's increasingly aggressive behaviour.
China pegged its defence budget at 1.45 trillion yuan last year, a 7.1 per cent increase. This year the defence spending is increased to 1.55 trillion yuan.
