China will increase its defense budget by 7.2% this year, consistent with last year’s figures, amid a slowdown in economic growth. The defense budget remains the second largest in the world, driven by rising tensions in the region, particularly towards Taiwan. Premier Li Qiang reiterated China’s preference for peaceful resolution while opposing Taiwanese independence.

On Wednesday, China confirmed it will increase its defense budget by 7.2% this year, as reported during the National People’s Congress, which is the country’s annual legislative meeting. Experts, including those from the Pentagon, suggest that China’s true defense spending could be at least 40% higher when accounting for various budget items not included in the official figures. This year’s increase is consistent with last year’s rate and reflects a broader economic slowdown, with a growth target set at approximately 5%.

Despite this more modest increase, China remains a dominant military power, with the second largest defense budget in the world following that of the United States. Notably, China maintains the largest naval fleet globally. Heightened geopolitical tensions with the United States, Taiwan, Japan, and other nations claiming parts of the South China Sea are stimulating advancements in military technology, such as stealth fighters, aircraft carriers, and nuclear capabilities.

The People’s Liberation Army (PLA), which serves as the military wing of the ruling Communist Party, has established bases on artificial islands within the South China Sea. Its primary focus, however, is on asserting control over Taiwan—a self-governing democracy that Beijing considers a part of its territory and that has strong associations with the United States. Recently, China dispatched a modest number of five aircraft and seven ships near Taiwan, following earlier operations involving dozens of aircraft aimed at undermining Taiwan’s defensive capacities.

During the Congress, Premier Li Qiang addressed nearly 3,000 party members, affirming China’s preference for a peaceful resolution regarding Taiwan. However, he firmly stated China’s opposition to advocates of Taiwan’s formal independence and their foreign supporters.

In summary, China is set to raise its defense budget by 7.2% this year, amid economic slowdowns and ongoing regional tensions, especially regarding Taiwan. While the increase matches last year’s figures, it indicates a decrease in previous double-digit growth rates. China’s military expansion continues in response to regional security concerns, emphasizing its intent to uphold territorial claims and modernize its capabilities.

Original Source: abcnews.go.com

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