BEIJING: China announced Tuesday it would boost its defense spending in 2024 as hostility over Taiwan and in the South China Sea grows.
The 7.2 percent increase, identical to last year's figure, was announced at the start of the annual meeting of the country's rubber-stamp parliament, the National People's Congress (NPC).
China will spend 1.665 trillion yuan ($231.4 billion) on defense in 2024, according to the budget report that lays out the government's financial plans for the year ahead.
China has the world's second-largest defense budget behind the United States, even though the People's Liberation Army (PLA) surpasses the US military by number of personnel.
Still, China's military spending is around three times smaller than Washington's in recent years.
The world's second-largest economy will maintain "reasonable growth" in its defense budget to "safeguard its sovereignty, security and development interests," NPC spokesman Lou Qinjian said Monday.
Viewed with suspicion
The country's expenditure on its armed forces has been on the rise for decades, broadly in line with economic growth.
China's military spending makes up 1.6 percent of its GDP, far less than the United States or Russia, according to the Stockholm International Peace Research Institute (Sipri).
But its defense expansion is viewed with suspicion by Washington, as well as other powers in the region, including Japan, with which Beijing has a territorial dispute over islands in the East China Sea.
China has also increasingly flexed its muscles in the South China Sea, which it claims almost entirely despite an international arbitration ruling that declared its stance baseless.
China's boost in spending is also a cause for concern for self-ruled Taiwan, which Beijing says is part of its territory to be claimed by force if necessary.
As the NPC kicked off on Tuesday, the government work report said China would again "resolutely oppose separatist activities aimed at 'Taiwan independence'" in 2024.
China made "a number of significant acquisitions, including a substantial increase in number of nuclear warheads" last year, James Char, an expert on the Chinese army at Nanyang Technological University in Singapore, said.
According to Sipri, Beijing had 410 nuclear warheads in 2023, an increase of 60 from the year before.
However, that still significantly lags behind Washington's 3,708 and Moscow's 4,489.
The United States has the world's highest military spending, according to Sipri — standing at $877 billion in 2022, the latest figures available.
China comes second, followed by Russia and India.
The United States also has "global presence and alliance networks, which China cannot replicate in the short term," said Neican's Ni.
Washington has hundreds of military bases abroad, while Beijing has just one, in Djibouti.
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