Chine well-known country for spending a lot sum of amount for its defense sector followed by the Unites States has recently hiked its military spending by around 7.5%. In the nation’s current 2019 -financial year budget plan, the ruling government of China has hiked the budget allocation to military spending to whopping amount of USD 177.61 billion and in terms of Chinese currency it will be 1.19 trillion Yuan.
The announcement came to lime light after the draft budget section submitted by the current ruling party of China the National People’s Congress (NPC) in its parliament yesterday.
Chinese Military Budget Hike Comparison
When compared with its neighboring country India’s military spending which has increased by 6.87% that leads to lump sum amount of Rs. 3.18 Lakh Crore, the Chinese military spending has 3 times higher. On the other hand, when compared with previous year Chinese budget allocation for its military spending, the current year that is 2019-budget is marginally 0.5% lower. Yes you heard it right; last year which is 2018-budget for Chinese military spending was 8.1%.
When analogizing the data from the past, the Chinese government has implemented double digit hikes for its military spending until 2015 and from 2016 onwards it reduces its military spending to single digit hikes.
Below listed table illustrate the military spending implemented by Chinese government for the past 3 years and current year.
|S.No||Year||Hikes in Percentage|
Highest Military Spender in 2019
Based on the drafted budget plans by the current Chinese ruling NPC party, the military spending for this financial year was pretty close to USD 200 billion mark which literally makes the second highest spender for military next to the United States of America.
Chinese Military Reforms
In recent past, the Chinese government has keen on implementing major reforms on its military especially in expanding its Navy and Air force. In addition to that, the most highlighting fact would be the action of cutting down around 3 Lakh people from the People’s Liberation Army (PLA) in recent years.
In fact, even after the reduction of such high number of army person from PLA troops, still Chinese PLA is positioned first when it comes number of army personnel in PLA. The current president of China Xi Jinping has repeatedly asked his PLA personnel to be ready for combat.
The raise in PLA troops occurred right after the china took steps towards claiming the vast territorial South China Sea, though it has some various disputes over the china’s claim.
On responding to the question raised over the increase in Chinese budget allocation in recent years the NPC spokesmen Zhang Yesui said as “the budget raise is aimed to meet the country’s demand in safeguarding national security and military reform with Chinese characteristics”.
The NPC spokesmen also added that the raise in Chinese military spending is still considerably low when compared with the Major Developing Countries military expenditure.