The China Mail - China says to hike defence spending by 7.2% this year

USD -
AED 3.672499
AFN 69.498985
ALL 82.712855
AMD 382.749732
ANG 1.789783
AOA 917.000349
ARS 1432.689009
AUD 1.500634
AWG 1.8025
AZN 1.699944
BAM 1.673405
BBD 2.013339
BDT 121.650816
BGN 1.666398
BHD 0.377074
BIF 2949.5
BMD 1
BND 1.2847
BOB 6.90735
BRL 5.390603
BSD 0.999611
BTN 88.385225
BWP 13.395221
BYN 3.383857
BYR 19600
BZD 2.01043
CAD 1.38385
CDF 2868.50203
CHF 0.795989
CLF 0.024289
CLP 952.839892
CNY 7.11865
CNH 7.113585
COP 3896.27
CRC 503.863035
CUC 1
CUP 26.5
CVE 94.469215
CZK 20.766041
DJF 177.719888
DKK 6.362415
DOP 63.498985
DZD 129.729085
EGP 48.223402
ERN 15
ETB 143.150187
EUR 0.85238
FJD 2.235695
FKP 0.738201
GBP 0.736705
GEL 2.69007
GGP 0.738201
GHS 12.210319
GIP 0.738201
GMD 71.504195
GNF 8659.999936
GTQ 7.657721
GYD 209.137073
HKD 7.788797
HNL 26.160501
HRK 6.4217
HTG 130.899975
HUF 333.747979
IDR 16421.3
ILS 3.32265
IMP 0.738201
INR 88.26785
IQD 1310
IRR 42074.999747
ISK 122.06004
JEP 0.738201
JMD 160.050652
JOD 0.709025
JPY 147.238
KES 129.502887
KGS 87.450026
KHR 4004.000254
KMF 419.503582
KPW 899.990456
KRW 1389.25019
KWD 0.30529
KYD 0.833009
KZT 538.915342
LAK 21674.999917
LBP 89549.999931
LKR 301.688549
LRD 199.74985
LSL 17.360255
LTL 2.952739
LVL 0.60489
LYD 5.405029
MAD 9.01225
MDL 16.608843
MGA 4469.999746
MKD 52.435143
MMK 2099.585355
MNT 3596.649211
MOP 8.020209
MRU 39.929934
MUR 45.559899
MVR 15.405011
MWK 1736.999973
MXN 18.480575
MYR 4.212497
MZN 63.899033
NAD 17.360455
NGN 1504.139996
NIO 36.691494
NOK 9.861905
NPR 141.418005
NZD 1.67326
OMR 0.384506
PAB 0.999611
PEN 3.484037
PGK 4.185018
PHP 57.129016
PKR 281.597588
PLN 3.626365
PYG 7160.611078
QAR 3.640501
RON 4.323298
RSD 99.843995
RUB 84.502135
RWF 1446
SAR 3.751501
SBD 8.223773
SCR 14.198577
SDG 601.502526
SEK 9.31156
SGD 1.281645
SHP 0.785843
SLE 23.385039
SLL 20969.49797
SOS 571.507358
SRD 39.772502
STD 20697.981008
STN 21.2
SVC 8.746914
SYP 13001.853615
SZL 17.444958
THB 31.710193
TJS 9.481371
TMT 3.5
TND 2.892135
TOP 2.342101
TRY 41.347598
TTD 6.789189
TWD 30.305198
TZS 2459.999665
UAH 41.316444
UGX 3508.861994
UYU 40.008385
UZS 12464.999774
VES 157.53157
VND 26402.5
VUV 119.093353
WST 2.715906
XAF 561.24423
XAG 0.024109
XAU 0.000275
XCD 2.70255
XCG 1.801575
XDR 0.697661
XOF 559.495189
XPF 102.103423
YER 239.599323
ZAR 17.367775
ZMK 9001.193234
ZMW 23.815941
ZWL 321.999592
  • RBGPF

    0.0000

    77.27

    0%

  • SCS

    0.2800

    17

    +1.65%

  • AZN

    0.2900

    81.1

    +0.36%

  • RIO

    0.4400

    62.54

    +0.7%

  • CMSD

    0.0500

    24.39

    +0.21%

  • GSK

    0.9800

    41.48

    +2.36%

  • CMSC

    0.0800

    24.38

    +0.33%

  • NGG

    0.3900

    71.07

    +0.55%

  • RELX

    1.2000

    46.33

    +2.59%

  • BTI

    1.0500

    57.31

    +1.83%

  • RYCEF

    0.4600

    15.19

    +3.03%

  • BP

    -0.2900

    34.47

    -0.84%

  • BCC

    3.1400

    89.01

    +3.53%

  • BCE

    0.1600

    24.3

    +0.66%

  • JRI

    0.1000

    14.12

    +0.71%

  • VOD

    0.2100

    11.86

    +1.77%

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.

H.Ng--ThChM