China military spending set to grow amid efforts to better forces
3 Min Read
The latest proposed budget on military spending in China estimates a 7.2% increase in funds, as China continues to fight corruption among its ranks.
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Soldiers from China's People's Liberation Army march toward Red Square during the Victory Day military parade marking the 75th anniversary of the Nazi defeat in Moscow, Russia, June 24, 2020. (AP)
China is set to increase its budget for defense spending by 7.2% to 1.67 trillion yuan ($232 billion) in 2024, according to a budget report released by the Ministry of Finance on Tuesday, as part of the country’s annual National People's Congress (NPC) meetings in Beijing.
Chinese authorities have been making remarkable efforts in recent years to rejuvenate and develop weapons, troops, and equipment, leading to significant growth in military spending since 2019.
Continued increases in expenditure have put China second only to the United States in terms of defense budgets. However, the rift remains high between the two rivals, as the US Department of Defense expenditures will reach around $842 billion, which excludes key military-related expenditures and aid sent to Ukraine and "Israel", pushing total military-related spending to $1.4 trillion, according to a Responsible Statecraft report published in mid-2023.
When comparing the figures, the US spends around 486% more on its military affairs than China would after six years of significant raises in military expenditure.
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Development and fighting corruption
China has achieved several landmarks in this period of time, revitalizing its regular infantry forces with newly developed QBZ-191 and other essential gear, restoring missile capabilities, and improving the PLA's overall preparedness.
Under the leadership of Xi Jinping, China has launched a fierce anti-corruption campaign that has held back major sectors of the world's largest economy. Corruption continues to be uprooted from the country's military, with the former head of the Department of Defense, Li Shangfu, subject to the latest round of investigation.
In late December 2023, Dong Jun was appointed minister of defense, taking the place of Li Shangfu who is reportedly being investigated for corruption alongside four generals from the army's strategic missile unit. Efforts to improve the unit's capabilities have reportedly revealed wide-ranging malpractices and cases of corruption that threatened the functionality of the unit. Three senior executives from the aerospace defense industry and a top advisory body to the Communist Party of China were also removed.
It is worth noting that China's pursuit of improved military readiness and capabilities comes as the US further encroaches into the island of Taiwan and militarizes the region, while Beijing holds on to its claim to Taiwan.
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