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    HomeWorldChina ramps up spending on its military as US looks to cut costs

    China ramps up spending on its military as US looks to cut costs

    The announcement is set to be made at an annual gathering of the nation’s legislature in Beijing that the government uses to roll out major plans and policies for the year.

    Bloomberg
    March 05, 2025 / 06:34 IST
    Xi Jinping

    China's defense spending is poised to climb by 7.2% this year, the same pace as last year, underscoring President Xi Jinping’s ambition to build a military that can challenge US power.

    The outlay will rise to some 1.78 trillion yuan in 2025, according to the Finance Ministry report seen by Bloomberg Wednesday. The announcement is set to be made at an annual gathering of the nation’s legislature in Beijing that the government uses to roll out major plans and policies for the year.

    (The article will be updated)

    Bloomberg
    first published: Mar 5, 2025 06:34 am

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