China Announces 7.2 Percent Increase in Military Spending

U.S. officials and defense analysts have long believed the communist regime’s reported budget captures only a fraction of its true spending on the armed forces.

Military vehicles carrying DF-5B intercontinental ballistic missiles participate in a military parade at Tiananmen Square in Beijing on Oct. 1, 2019. Greg Baker/AFP via Getty Images

China plans to boost its defense spending by 7.2 percent this year, matching the pace of last year’s expansion as the communist regime strives to advance its armed forces despite economic headwinds.

With this increase, the official military expenditure is set to soar to roughly 1.8 trillion yuan ($245.6 billion), according to a draft budget unveiled during the annual meeting of China’s rubber-stamp Legislature, the National People’s Congress, on March 5.