China plans to extend protection spending by 7.2%

China’s Air Force is displaying its L15 Falcon trainer at the Zhuhai Air Show in 2022. The country has a deal to export the aircraft to the United Arab Emirates.

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BEIJING — China will increase defense spending by 7.2% this year to 1.56 trillion yuan ($230 billion), according to a draft released by the Ministry of Finance on Sunday.

According to official data, China’s defense budget grew 7.1% to 1.45 trillion yuan last year, faster than the 6.8% increase in 2021 and 6.6% in 2020.

In 2019, China’s defense spending grew 7.5% to 1.19 trillion yuan.

In a separate report on Sunday’s government work, Premier Li Keqiang made no mention of the war between Russia and Ukraine. “We should remain committed to an independent foreign policy of peace,” says the report.

The work report called for “determined steps against ‘Taiwan independence'” while sticking to Beijing’s call for “peaceful reunification.”

Taiwan is a democratically governed, self-governing island that Beijing claims is part of its territory.

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