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China Hikes Defence Budget To $209 Billion, 6.8% up From Last Year

Chinese Premier Li Keqiang announced the budget hike at the country’s Parliament, the National People’s Congress.

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Maintaining a single-digit growth for the sixth consecutive year, China on Friday, 5 March, hiked its defence budget to $209 billion with a 6.8 percent increase, reported PTI.

Chinese Premier Li Keqiang announced the budget hike at the country’s Parliament, the National People’s Congress (NPC).

Zhang Yesui, spokesperson for the NPC, reportedly told the media that China’s approach to strengthen its national defence does not target to threaten any country, according to PTI.

“Whether a country poses a threat to others depends on what kind of defence policy it pursues,” he added.

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Defending the increase, Yesui said that China adheres to a defence policy that is defensive in nature and is committed to the path of peaceful development.

According to the state-run Global Times, last year, China allocated 1.268 trillion yuan (about $196.44 billion) to its defence budget.

Vision 2035

China’s biggest annual parliamentary meet, known as “Two Sessions” or “Lianghui” converged on Thursday in its capital city of Beijing, at the Great Hall of the People, and will wrap up by 11 March, amid stringent COVID-19 restrictions.

The “Two Sessions” marks the start of the next five-year plan and President Xi Jinping’s “2035 vision,” as he heads towards his unprecedented third term, amongst revealing other prominent policy changes according to South China Morning Post (SCMP).

(With inputs from PTI)

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