China on Sunday announced a 7.2% increase in its defense budget for the coming year, up slightly from last year’s 7.1% rate of increase. That marks the eighth consecutive year of single-digit percentage point increases in what is now the world’s second-largest military budget. The 2023 figure was given as 1.55 trillion yuan ($224 billion), roughly double the figure from 2013.
Along with the world’s biggest standing army, China has the world’s largest navy and recently launched its third aircraft carrier. According to the U.S., it also has the largest aviation force in the Indo-Pacific, with more than half of its fighter planes consisting of fourth or fifth generation models.
China also boasts a massive stockpile of missiles, along with stealth aircraft, bombers capable of delivering nuclear weapons, advanced surface ships and nuclear powered submarines.
The 2 million-member People’s Liberation Army is the military wing of the ruling Communist Party, commanded by a party commission led by president and party leader Xi Jinping.
For the rest of this article: https://apnews.com/article/china-defense-budget-aircraft-carriers-cdac45c8d36a47cffda68be99b7c9ee7