China increases military spending in face of ‘escalating’ threats ...Middle East

BEIJING: China said Sunday its military spending would rise at the fastest pace in four years, warning of “escalating” threats from abroad at a meeting of its rubber-stamp parliament that is set to hand Xi Jinping a third term as president.The increase in the world's second-largest defence budget came as Beijing announced an economic growth goal of around five percent for this year -- one of its lowest in decades.The country's planned budgets for the year put defence spending at 1.55 trillion yuan ($225 billion), a 7.2 percent rise and the quickest rate of increase since 2019. It officially rose 7.1 percent last year.Outgoing Premier Li Keqiang told delegates to the National People’s Congres

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Last updated : 05 March 2023 clock 10:20 AM

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China increases military spending in face of ‘escalating’ threats ...Middle East

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