China's 2022 military budget is 1.45 trillion yuan ($230 billion), up 7.1 percent

[shi12jun]

[Global Times-Global Network Reporter Guo Yuandan] According to Xinhua News Agency's English report on the 5th, China's defense spending this year will increase by 7.1% compared with 2021. This is the first time that China's defense spending growth has returned to the "7% era" after a lapse of two years. Experts believe that China's defense expenditure is actually not high. First, China's military expenditure accounts for only about 1.4% of China's GDP. In addition, China is facing increasing external threats. It is necessary for China to increase military expenditure to maintain national security.
In 2020 and 2021 after the outbreak of the new crown epidemic, China's defense expenditure growth will be below 7%. China's defense spending budget for 2020 is 1,268 billion yuan (about 178.2 billion U.S. dollars), an increase of 6.6% over the previous year, and 1,379.544 billion yuan (about 209 billion U.S. dollars) in 2021, an increase of 6.8% over 2020. Previously, the growth rate of the defense budget from 2016 to 2019 was above 7% (inclusive).

On the morning of the 5th, according to the draft government budget report submitted by the Chinese Ministry of Finance at the National People's Congress, China's military budget for this year is 1.45 trillion yuan, a year-on-year increase of 7.1%, an increase of 0.3 percentage points from last year.

 

[xuxu1457]

1.45trillion YUAN is still less than 1.2% of 2021's GDP(114trillion YUAN), we should increase to 2% as NATO standard

even Germany increase from 1.5% to 2%

 

[shi12jun]

Netizens on the Internet in China believe that the increase in China's military expenditure is too small and should be increased to 350 billion US dollars.

 

[UKBengali]

This is a MASSIVE expenditure on defence when you correct for PPP as China now buys 99% of it's arms from itself and pays its soldiers in Yuan.

Only things that are at international prices are fuel etc.

So in US dollars it is 230 billion US dollars but more like 400 billion US dollars in PPP.

No wonder the Chinese are adding so many new ships, planes and armoured vehicles to their military every year.

Netizens on the Internet in China believe that the increase in China's military expenditure is too small and should be increased to 350 billion US dollars.

Think the Chinese government is about correct with this amount of money.

 

[jaybird]

With the current geopolitical environment we are in now, even 2% is too little. China's military budget needs to increase a lot more than that. Who knows when will war come uninvited at your doorstep.

 

[ILC]

Joke increase. Less than 1.2% of gdp in 2022.

 

[shi12jun]

In 2022, China's military spending will account for less than 1.2% of GDP, which is too low and should be increased to 1.8%-2.0%

 

[xuxu1457]

defence budget 1.45trillion YUAN （230billion $） is only 1.2% of China GDP
and 5.4% of China Total fiscal expenditure （26.7trillion YUAN，4.23trillion $）

 

[aryobarzan]

Anything less than 2% GDP is rather low for a country facing threat.. and China is in the crosshair of the Empire..