But for the past two decades, China’s military budget has been steadily increasing, first at a double digit pace until 2016 before dipping down to around 6% to 7% increases annually. The country has embarked on an ambitious military modernization project to reorganize its fighting forces and invest more in defense technologies.
China’s parliamentary spokesperson Wang Chao told reporters this weekend that the budget increase this year was quote “relatively moderate and reasonable” and a response to the “complex security challenges” in the world.”Li also re-hashed old language on Taiwan, suggesting that China’s attitude towards the self-governed island has not changed, with Beijing preferring to “re-unify” with the island peacefully rather than by use of force.
Xi ally Li Qiang, a former Communist Party boss in Shanghai and neighboring coastal provinces, is widely expected to get the job, in an appointment that many see as part of Xi’s efforts to consolidate his grip on power as he embarks on a rare third term as state president. Since the government ended its COVID controls late last year, it has been signaling that the economy would be the top policy priority this year.
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