China raises defence budget 7.2% for 2023

CHINA today said said it would raise its defence spending by 7.2% in 2023, compared with 7.1% last year, as its outgoing premier warned of growing “external” threats to Beijing’s rise.

The country will spend  ¥1.55 trillion yuan (RM1 billion) on defence this year, according to a report by the Finance Ministry published on the opening day of the annual session of the country’s rubber-stamp parliament.