China plans 7.1 pc defence spending rise this year

#China's decision to increase its military budget by 7.1 per cent, has caught the eyes of several analysts who believe that decision to spend more on defence-related research and development, was made after restrictions were imposed on the flow of technology from the #US and #Europe. The #ChineseGovernment has proposed the defence budget for the fiscal year 2022 at 1.45 trillion yuan (USD 230 billion), a 7.1 per cent year on year increase, state-run China Daily reported quoting the draft #Budget proposals presented by #PremierLiKeqiang to the National People’s Congress (#NPC), the country’s #Parliament on Saturday.