China needs to increase its military budget to meet “complex security challenges”, a top Chinese official says amid rising geopolitical tensions with the US.
“The increase in defence spending is needed for meeting the complex security challenges and for China to fulfil its responsibilities as a major country,” Wang Chao, spokesperson for the National People’s Congress, the country’s top legislative body, said on Saturday.
China’s defence outlays have come under the spotlight amid increasing friction with the US over technology and the war in Ukraine, as well as Beijing’s claims to a wide swath of the South China Sea. There have also been concerns over a potential military clash between the superpowers over Taiwan.
Wang didn’t give any forecasts for military spending, but noted that outlays as a share of its GDP have been kept basically stable for many years and the increase is “appropriate and reasonable”.
Spending on the military, known as the People’s Liberation Army, has increased by at least 6.6% each year over the past three decades, keeping pace or often exceeding economic growth, though the overall spending figure remains far surpassed by US military expenditure.
“The future of China is closely connected with the future of the world. China’s military modernisation will not be a threat to any country, and it is a positive power to ensure regional stability and world peace instead,” he added.
More stories like this are available on bloomberg.com
China defends growing military budget
Image: Bloomberg
China needs to increase its military budget to meet “complex security challenges”, a top Chinese official says amid rising geopolitical tensions with the US.
“The increase in defence spending is needed for meeting the complex security challenges and for China to fulfil its responsibilities as a major country,” Wang Chao, spokesperson for the National People’s Congress, the country’s top legislative body, said on Saturday.
China’s defence outlays have come under the spotlight amid increasing friction with the US over technology and the war in Ukraine, as well as Beijing’s claims to a wide swath of the South China Sea. There have also been concerns over a potential military clash between the superpowers over Taiwan.
Wang didn’t give any forecasts for military spending, but noted that outlays as a share of its GDP have been kept basically stable for many years and the increase is “appropriate and reasonable”.
Spending on the military, known as the People’s Liberation Army, has increased by at least 6.6% each year over the past three decades, keeping pace or often exceeding economic growth, though the overall spending figure remains far surpassed by US military expenditure.
“The future of China is closely connected with the future of the world. China’s military modernisation will not be a threat to any country, and it is a positive power to ensure regional stability and world peace instead,” he added.
More stories like this are available on bloomberg.com
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