Budget Brief: More Of The Same For Chinese Defense Spending In 2024
President Xi Jinping (center) opens China's annual National People’s Congress on March 5.
Credit: Li Xueren/Xinhua/Alamy Live News
China announced a further substantial increase to military expenditure on March 5 at the opening of the annual National People’s Congress (NPC). The 2024 budget includes a 7.2% increase for defense which will see spending rise from CNY1,553.7 billion to CNY1,665.5 billion ($232 billion). While the...
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Budget Brief: More Of The Same For Chinese Defense Spending In 2024 is published in Aerospace Daily & Defense Report, an Aviation Week Intelligence Network (AWIN) Market Briefing and is included with your AWIN membership.
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