søndag 17. mars 2019

Modernising military remains top priority as China boosts defence spending to US$175.98 billion after announcement in Two Sessions

China’s modest defence budget increase this year shows that modernising the military will remain a top priority for Beijing amid a slowing economy and the trade war with America, analysts say. Military funding will rise to 1.18 trillion yuan (US$175.98 billion) in 2019, up by 7.5 per cent from last year, according to the budget report released on Tuesday at the opening of the National People’s Congress in Beijing. Although that is less than the 8.1 per cent defence spending increase in 2018, it is above the 6 to 6.5 per cent economic growth forecast for 2019.