On Friday, China raised its defence budget to USD 209 billion, sustaining a single-digit rate of growth for the sixth consecutive year, with a 6.8% rise in 2021. The budget increase was declared by Chinese Prime Minister Li Keqiang at the National People’s Congress, Parliament of China (NPC). Defending the rise, Zhang Yesui told the media that China’s efforts are only to enhance its national defence, not to target or threaten any country. Whether a rustic poses a threat to others, depends on what quite defence program it pursues, he said, adding that China is committed to the trail of peaceful development and to a defence program that’s defensive in nature.
Last year, consistent with the state-run Global Times, China allocated 1,268 trillion yuan (about USD 196.44 billion). China’s annual defence budget maintains a single-digit rise for the sixth consecutive year, consistent with the state-run Xinhua press agency. The expected defence spending this year would be about 1.35 trillion yuan (about USD 209 billion), he said. China’s defence budget is around one-quarter of the US budget, which is USD 740.5 billion for the financial year 2021, it said.
As the world’s second-largest economy and therefore the most populous nation, China’s projected defence spending per capita in 2021 is going to be but 1,000 yuan (USD 154), he said. China is applying strict fiscal allocation and budget control frameworks to its defence spending, which is primarily allocated to staff, training and maintenance, as well as equipment, it said. Since 1978, China has voluntarily reduced its soldiers by quite four million soldiers, consistent with a white book published in 2019.
