China announces increase in military budget for 2023
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China will increase the military budget in 2023 by 7.2 percent. It will amount to 1553.7 billion yuan, which is equivalent to 224.8 billion dollars. This follows from the published draft budget.
Earlier, the official representative of the National People’s Congress, Wang Chao, announced that China was increasing its defense budget due to the need to respond to complex modern challenges. The politician assured that the modernization of the Chinese army does not pose a threat to any country in the world.
The PRC is not a party to any armed conflicts. China’s military doctrine is defensive in nature. Nevertheless, Beijing increases defense spending every year. At the moment, in terms of their volume, China is in second place after the United States.
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