China Maintains Defence Spending Increase at 7.2% Amid Roiling Geopolitical Tensions
China will boost its defence spending by 7.2% this year, maintaining a steady growth rate as Beijing faces headwinds from three years of sluggish economic expansion amid mounting geopolitical challenges from Taiwan to Ukraine. The increase is well above China's economic growth target for this year and reflects Beijing's ambitions for continued military modernisation amid roiling geopolitical challenges. This year's report stresses the importance of combat readiness and scientific and strategic improvements, while also pledging to "continue improving the political conduct of the military".
- The steady defence spending growth raises questions about the priorities within China's military modernisation efforts, particularly in light of the country's economic constraints.
- Will China's military modernisation ambitions, including the completion of full military modernisation by 2035, be able to compensate for its economic slowdown and geopolitical challenges?