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Growth in China's military budget slows to 6.6%

Friday, May 22, 2020   (0 Comments)

By Staff Writer  |  May 22, 2020  |  Japan Times

 

BEIJING – China will increase its military budget by a slower 6.6 percent this year, the government announced Friday at the opening session of its annual National People’s Congress.

The budget will be set at 1.268 trillion yuan ($178 billion) for the year — the second-biggest in the world after the United States — continuing a downward trend in military spending and lower than last year’s increase of 7.5 percent.

Beijing’s defense budget pales in comparison to the $738 billion allotted for this year’s U.S. military budget. READ MORE...


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