China’s Defense Budget Doubles to $178.2B in a Decade

  • Our Bureau
  • 08:34 AM, May 22, 2020
  • 3279
China’s Defense Budget Doubles to $178.2B in a Decade
J-20 stealth fighter jets

China has set aside 1.268 trillion yuan ($178.2 billion)for its military projects which is a little more than double it had dedicated for the same in 2011.

The defense budget growth rate stands at 6.6%, halving from 12.7% in 2011, according to a draft budget report to be submitted to the National People’s Congress (NPC).

In 2019, China announced defense spending of around 1.2 trillion yuan ($177 billion) at the NPC, which is the world’s second largest.

A Stockholm International Peace Research Institute (SIPRI) report published in January of this year suggested that China is the second-largest arms producer in the world, behind the United States but ahead of Russia.

China’s Defense Budget Doubles to $178.2B in a Decade

“The increased defense budget can ensure the Chinese military's major programs and key spending fields are not affected by the pandemic and will remain on schedule,” Wei Dongxu, a military expert, was quoted as saying by Global Times.

Among other big ticket projects in the pipeline, China plans to build its third aircraft carrier and possibly, a carrier-based jet. It has also accelerated work on Type 075 helicopter carriers, developed a variety of guns and vehicles: tanks and air-dropped armored vehicles, built a number of J-20 stealth jets, radars and drones.

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