It has been announced by the National Popular Assembly (APN) who has confirmed the decisions of the communist party and that on this occasion he must seal the third term of the president Xi Jinping, that China will increase military spending by more than 7% this year.
So the military budget of Chinawhich is 225 billion dollars, still does not surpass that of the United States, which is four times greater.
Still, analysts think that China he has understated the total number of how much he spends on defense.
The outgoing Prime Minister li keqiangHe told APN that “external attempts to suppress and contain China are increasing.”
“The armed forces should intensify military training and readiness in all areas,” he said.
It was also announced at the meeting that China it will seek a reduced economic growth target of around 5% this year.
The Two Sessions, as the meetings are known, are an annual event.
But this year’s sessions are particularly significant, as delegates are expected to reshape several key institutions of the Communist Party and the State.
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The meeting of the APNs this week will also formalize Xi’s leadership in the country, as he will be elected president of China and head of the armed forces.
Xi already secured his position in the echelons of Chinese power in October last year, when the communist party re-elected him as its leader for a third term.
The increase in military spending comes at a time when the Asian giant sees its ties with the United States deteriorate further due to the war in Ukraine and the recent chapter of the spy balloons together with the warm treatment that the Russian president gives him Vladimir Putin.
US officials have also repeatedly warned that China could invade Taiwan in the next few years, and the country has been making increasing displays of military force in the air and at sea around Taiwan, including launching ballistic missiles.
China he sees Taiwan as a breakaway province that will eventually come back under Beijing’s control.
The APNs it will also unveil the equivalent figure of a prime minister who traditionally oversees the economy and administrative aspects of governance.
Li Qiang, one of Xi’s most trusted people, is expected to take over.
