China will increase the military budget in 2023 by 7.2%. It will amount to 1553.7 billion yuan, which is equivalent to 224.8 billion dollars. This stems from the published draft budget.
Earlier, National People’s Congress official Wang Chao announced that China is increasing its defense budget due to the need to respond to complex modern challenges. The politician assured that the modernization of the Chinese army does not pose a threat to any country in the world.
The PRC is not a party to any armed conflict. Chinese military doctrine is defensive in nature. Nevertheless, Beijing increases its defense spending every year. At present, in terms of volume, China ranks second after the United States.
