China Increases Defense Budget by 7.2% Amid Regional Tensions

Beijing's military spending hike comes as it hardens its stance on Taiwan and faces growing rivalry with the United States.

China announced a 7.2% increase in its defense budget for 2024, raising the allocation to 1.665 trillion yuan ($231.4 billion).
The increase mirrors last year's rate and is seen as a response to heightened tensions with the US, Taiwan, and other regional powers.
Beijing drops mention of 'peaceful reunification' with Taiwan, signaling a tougher stance.
China's military spending has more than doubled under President Xi Jinping's leadership, amid efforts to modernize its armed forces.
The US remains the world's top military spender, with China's defense budget being the second highest.