China to raise defense spending by 7.1% to USD229 billion
China this weekend announced a 7.1% increase in defense spending in 2022 to USD229 billion, continuing years of robust spending on its increasingly powerful military that is challenging the U.S. armed forces’ dominance in the Indo-Pacific region.
China has the world’s second-largest defense budget after the U.S., allowing it to maintain the largest standing military, with 3 million personnel and an arsenal of advanced weaponry, including two aircraft carriers with more on the way, stealth fighters, an advanced missile force and nuclear-powered submarines.
This year’s increase exceeds the 6.8% boost from last year, showing China’s determination to maintain the drive to expand and modernize its armed forces despite high levels of government debt and a slowing economy, partly as a result of the coronavirus pandemic.
By contrast, the U.S. increased defense spending by about 2% this year to $768.2 billion.
The Chinese government says most of the spending increases will go toward improving welfare for troops. Observers say the budget omits much of China’s spending on weaponry, most of which is developed domestically.
