China’s defence budget continues to rebound
China is modenising its military at a terrific rate, buoyed by large annual increments of money. (Gordon Arthur)
COVID-19 caused a slowdown in spending growth for the PLA, but China seems to have put that behind it as it keeps the spigots of cash open.
China’s spending on the People’s Liberation Army (PLA) will rise 7.1% compared to last year, according to a 5 March announcement about Beijing’s defence budget for 2022.
In monetary terms, this amounts to CNY1.45045 trillion ($229.39 billion). In fact, the overall increase of approximately $20 billion compared to last year is the largest ever annual jump.
Putting this in perspective, this year’s lump-sum increase eclipses Taiwan’s total annual defence budget of $15.4 billion.
This budget underscores that military spending in China is experiencing a strong rebound. Last year, China increased spending by 6.8% to CNY1.355 trillion, whereas two years ago, Beijing approved just
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