Flags of the People’s Republic of China fly over Tiananmen and the Great Hall of the People in Beijing.
Credit: Carl & Ann Purcell/Getty Images
China’s defense budget is set to increase by 7.1% for fiscal 2023, rising from CNY1,450.4 billion to CNY1,553.7 billion ($224.9 billion). As has become customary, the budget announcement occurred at the beginning of the annual National People’s Congress (NPC) on March 5. Spokesperson Wang Chao...
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‘Official’ Chinese Defense Budget Up 7.1% For 2023 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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