China to raise defense budget by 7.2 percent this year
Beijing, CHINA (EFE).- China in its draft budget presented to the annual National Peopleโs Congress (NPC), the countryโs top legislature, announced on Tuesday that it would raise its annual defense by 7.2 percent this year to 1,665 trillion yuan ($231.352 billion).
The defense budget, which was also increased by 7.2 percent in 2023, has been announced amid tensions in the South China Sea and the focus on Taiwan, an island that Beijing claims as its own.
Tensions have been especially significant with the Philippines, which strengthened its military alliance with Washington to curb Chinaโs expansionist ambitions.
It led to clashes between ships from both countries in recent months, raising concerns about potential armed conflict in the region.
Beijing accuses Taiwanโs ruling Democratic Progressive Party (PDP) of adding fuel to the fire โlit by the separatistsโ by also increasing its allocation for defense and signing agreements to receive US weapons.
PDF has governed Taiwan for the last eight years and will continue to do so after the win of its candidate in the recent presidential elections.
Chinese premier Li Qiang, while reading the government action report, indicated on Tuesday that China would โresolutely opposeโ all โseparatist activities aimed at โTaiwan independence’โ as well as โexternal interferenceโ on the island, which has been self-governed since 1949.
โWe will promote the peaceful development of cross-Strait relations, be firm in advancing the cause of Chinaโs reunification, and uphold the fundamental interests of the Chinese nation,โ he said.
โWe will improve the wellbeing of Chinese people on both sides so that together, we can realize the glorious cause of national rejuvenation,โ added the Chinese premier.
On the sidelines, Li asserted that China would carry out an โindependentโ foreign policy and would bet on โpeaceful developmentโ based on openness and cooperation.
โWe call for an equal and orderly multipolar world and universally beneficial and inclusive economic globalization, and we are committed to promoting a new type of international relations,โ he said.
Li added that the country would โfightโ against what it considered โhegemonic, high-handed, and bullying actsโ and that it would work with the international community to launch its Global Development Initiative aimed at accelerating the implementation of the UN 2030 Agenda for Sustainable Development Goals.
Li also indicated that the Asian country would try to promote the Global Security Initiative proposed by Chinese President Xi Jinping.
The initiative opposes the use of sanctions on the international stage.
According to experts cited by the pro-government newspaper Global Times, the defense budget sought to cover the needs of the country in a challenging security environment. EFE
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