China raises its military spending to $230 billion, a 7.1% increase from year earlier

Amid concerns of a possible invasion of Taiwan, China has announced its plan to increase its military budget by almost $230 billion this year, the Daily Mail reports.

Premier Li Keqiang has stated that the funds are intended to “enhance military capabilities and boost combat preparedness,” as he presented a draft budget to the National People’s Congress in Beijing, as reported by the Daily Mail.

The increase in military spending signifies China’s fastest pace of growth in four years and a shift in priorities, as the country moves towards allocating a larger share of its economy towards military expenses.

"China increases its military budget by 7.1% - $230BN – to ’boost combat preparedness’ for ‘major tasks’ amid fears it will launch an invasion of Taiwan"
READ MORE: https://www.dailymail.co.uk/news/article-11822303/China-increases-military-budget-230BN-amid-fears-launch-invasion-Taiwan.html

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