China to raise defense spending by 7.2% in 2025
From CNBC: 2025-03-05 00:51:01
China’s navy showcased its J-15T fighter jet at the 2024 Zhuhai Air Show. China increased defense spending by 7.2% to 1.78 trillion yuan for the 2025 fiscal year to safeguard national security. This comes as Western nations boost military spending. The EU pledged up to 800 billion euros to support Ukraine amid Russia’s invasion.
In 2024, China saw a 7.2% rise in defense spending to 1.67 trillion yuan, maintaining the same growth rate as the previous years. China’s defense expenditure as a share of GDP has remained under 1.5%, lower than the global average. The U.S. set its 2025 military budget at $850 billion, making it the largest military spender.
Chinese spokesperson Lou Qinjian emphasized the importance of safeguarding peace with strength through defense spending. China also increased public security expenditures by 7.3%, a significant rise from the previous year. China’s defense budget reflects a strategic focus on national security and stability amidst global tensions.