China Boosts Defence Budget For 2022 by 7.1%

Beijing plans to boost China’s defence budget by 7.1%, to a total of 1.45 trillion yuan ($230 billion) in 2022, the Global Times reported.

The proposed budget growth is steady and reasonable at a time when China needs to modernize its military capabilities to safeguard national sovereignty and territorial integrity amid severe external threats and an unstable security environment, the report said citing analysts.

Read the full report: The Global Times.

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Tags: Budget

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.