A draft released Sunday by the Ministry of Finance showed China’s defense spending will rise 7.2% this year to 1.56 trillion yuan ($230 billion).
According to official data, China’s defense budget increased by 7.1% last year to 1.45 trillion yuan, outpacing the 6.8% increase in 2021 and the 6.6% increase in 2020.
China’s defense spending increased by 7.5% in 2019 to 1.19 trillion yuan.
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