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
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 2 free stories per week
- Personalised news alerts
- Daily and weekly newsletters
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
You may also like
More from Defence Notes
-
![US lawmakers warn that “more military spending is absolutely necessary” to ensure Pentagon’s readiness]()
US lawmakers warn that “more military spending is absolutely necessary” to ensure Pentagon’s readiness
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
-
![Can the US overcome Russian and Chinese nuclear capabilities?]()
Can the US overcome Russian and Chinese nuclear capabilities?
Washington’s ageing inventory and the pace Moscow and Beijing have been modernising their capabilities put in check the US Nuclear deterrence.
-
![US FY2024 funding package passes as China closes military capability gap]()
US FY2024 funding package passes as China closes military capability gap
The Pentagon has been operating under temporary funding since October 2023, which has impacted its main acquisition and development programmes, increasing the capability gap between the US and China.
-
![NATO outlines future challenges as Ukrainian funding from US stalls]()
NATO outlines future challenges as Ukrainian funding from US stalls
In 2023, defence spending increased by an unprecedented 11% across European NATO countries and Canada. Since 2014, the group has spent an additional US$600 billion on defence.
-
![US Pentagon to reduce investments in main acquisition programmes over FY2025]()
US Pentagon to reduce investments in main acquisition programmes over FY2025
The DoD requested nearly US$850 billion to fund operations over the next fiscal year. Despite the amount being 1% higher than the FY2024 budget request, it has not covered the 3% inflation rate, which could impact the DoD’s main programmes in the medium and long term.
