China's defence budget sees a rise of 7.2per, expenditure shadowed by Russia
Categories: FOREIGN COUNTRIES
China has announced its defence budget for 2022 on the opening day of its fifth annual session of the 13th National People`s Congress (NPC). Usually these annual announcements of Chinese military spending grab headlines, but in 2022 the 7.1 per cent rise in Beijing`s defence expenditure is overshadowed by the Russia-Ukraine war.In monetary terms, China`s 2022 defence spending is CNY1.45045 trillion (USD229.39 billion). Indeed, the budget revealed on 5 March confirms a continuing rebound in expenditure. Last year, China increased spending by 6.8 per cent to CNY1.355 trillion (USD209.4 billion). This is the seventh year in a row where the defence budget has risen in only single-digit percentages, underscoring that the halcyon days of double-digit growth are long gone. The pretty consistent year-to-year gains for defence expenditure also underscore that the PLA is at heart a political entity. Anonymous "analysts" quoted by China`s parochial Global Times said the budget was "steady and reasonable at a time when China needs to modernize its military capabilities to safeguard national sovereignty and territorial integrity amid severe external threats and an unstable security environment". Chinese commentators also quoted "provocative" US actions such as sailing warships - entirely legally, it must be added - through the Taiwan Strait or the South China Sea. The border stand-off with India has not been solved either, even after nearly two years, and this requires money to sustain.