{"id":5698,"date":"2023-03-05T18:49:52","date_gmt":"2023-03-05T18:49:52","guid":{"rendered":"https:\/\/ameforum.net\/?p=5698"},"modified":"2023-03-05T18:50:32","modified_gmt":"2023-03-05T18:50:32","slug":"china-to-increase-defense-spending-by-7-2","status":"publish","type":"post","link":"https:\/\/ameforum.net\/en\/china-to-increase-defense-spending-by-7-2\/","title":{"rendered":"China to increase defense spending by 7.2%"},"content":{"rendered":"<p><strong>Evelyn Cheng<\/strong><br><\/p>\n\n\n\n<p>China is set to increase defense spending this year by 7.2% to 1.56 trillion yuan ($230 billion), according to a draft released Sunday by the Ministry of Finance.<\/p>\n\n\n\n<p>China\u2019s defense budget&nbsp;<a href=\"https:\/\/www.cnbc.com\/2022\/03\/05\/china-defense-spending-to-rise-by-7point1percent-in-2022-says-finance-ministry.html\" target=\"_blank\" rel=\"noopener\">grew by 7.1% last year to 1.45 trillion yuan<\/a>, faster than the 6.8% increase in 2021 and 6.6% climb in 2020, according to official data.<\/p>\n\n\n\n<p>In 2019, China\u2019s defense spending rose by 7.5% to 1.19 trillion yuan.<\/p>\n\n\n\n<p>In a separate report Sunday about government work, Premier Li Keqiang did not mention the Russia-Ukraine war. \u201cWe should stay committed to an independent foreign policy of peace,\u201d the report said.<\/p>\n\n\n\n<p>The work report called for \u201cresolute steps to oppose \u2018Taiwan independence\u2019\u201d while sticking to Beijing\u2019s call for \u201cpeaceful reunification.\u201d<\/p>\n\n\n\n<p>Taiwan is a democratically ruled self-governed island that Beijing claims is part of its territory.<\/p>\n\n\n\n<p>The U.S. government in December authorized over $800 billion in defense spending for the fiscal year that ends Sept. 30, 2023. In addition to domestic inflation, the spending plan pointed to the&nbsp;<a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/7776\/text\" target=\"_blank\" rel=\"noreferrer noopener\">need to counter Chinese and Russian military capabilities.<\/a><\/p>\n\n\n\n<p>That\u2019s significantly higher than prior years.<\/p>\n\n\n\n<p>In fiscal year 2022, the U.S. spent $767 billion, or 12% of its budget,<a href=\"https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/federal-spending\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u00a0on national defense, according to Treasury data.<\/a>\u00a0That was about 2% more than the $755 billion spent in 2021, the data showed.<br><br>(Source: CNBC)<\/p>","protected":false},"excerpt":{"rendered":"<p>Evelyn Cheng China is set to increase defense spending this year by 7.2% to 1.56 trillion yuan ($230 billion), according to a draft released Sunday by the Ministry of Finance. China\u2019s defense budget&nbsp;grew by 7.1% last year to 1.45 trillion yuan, faster than the 6.8% increase in 2021 and 6.6% climb in 2020, according to &hellip;<\/p>","protected":false},"author":11,"featured_media":5699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172,183,218],"tags":[],"class_list":["post-5698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-172","category-asian-issues","category-reports-and-articles"],"_links":{"self":[{"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/posts\/5698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/comments?post=5698"}],"version-history":[{"count":1,"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/posts\/5698\/revisions"}],"predecessor-version":[{"id":5701,"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/posts\/5698\/revisions\/5701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/media\/5699"}],"wp:attachment":[{"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/media?parent=5698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/categories?post=5698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ameforum.net\/en\/wp-json\/wp\/v2\/tags?post=5698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}