China boosts defence budget by 7%
China's National People's Congress (NPC) provided no breakdown on numbers on its defence budget increase, but NPC spokesperson Fu Ying confirmed an increase of 7%. This would bring the number to over a trillion yuan (RMB1.044 trillion or $151.5 billion) for the first time in China's history.
The amount, about 1.3% of gross domestic product (GDP), was an increase from $146.6 billion in 2016, but growth slowed from the double-digit increases that began in 2000 and ended last year with only a 7.6% increase.
The lack of transparency on how the budget will be divided amongst the armed services is
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
- Daily news round-up email service
- Access to all Decisive Edge email 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
More from Defence Notes
-
RUSI deputy: UK needs longer procurement plans and improved awareness of US sift to Indo-Pacific
The UK budget announced in Parliament on 30 October was the first by a Labour government in 14 years which has also launched a review into defence procurement programmes.
-
Australia outlines longer punch and brings local industry onboard
The Australian government has placed a focus on Guided Weapons and Explosive Ordnance (GWEO) which has included the purchase of additional long-range rocket systems and investments in local production of missiles.
-
UK boosts defence budget by 5.3%, but is this enough?
The UK budget announced in Parliament on 30 October is the first by a Labour government in 14 years. While it sees a boost in defence spending, this comes in the face of fiscal challenges and the effects of inflation.
-
UK makes big moves to fix “broken” defence procurement system ahead of major review
The changes are intended to meet greater need and deliver more value for money.
-
US companies invest in production capabilities to satisfy DoD’s hunger for cutting-edge capabilities
BAE Systems, Booz Allen Hamilton and Lockheed Martin have been betting on new facilities and innovative manufacturing technologies to speed up the development of new solutions.
-
Just Released: Military Training Technology Report October 2024 now available to read
How the latest portable simulation solutions can deliver JTAC training wherever it is needed