By Zhao Lei for China Daily
The Chinese government has proposed a defense budget of 1.55 trillion yuan ($225 billion) for the 2023 fiscal year, a 7.2-percent year-on-year increase, according to a draft budget report submitted to the national legislature on Sunday morning. If approved by lawmakers, the proposed expenditure will maintain single-digit growth for an eighth consecutive year. At the NPC session last year, the Chinese government proposed a defense budget of 1.45 trillion yuan for the 2022 fiscal year, a 7.1-percent year-on-year increase. The 2021 defense budget was proposed at 1.35 trillion yuan, raised by 6.8 percent.
Source: China Daily
http://www.chinadaily.com.cn/a/202303/05/WS6403faa3a31057c47ebb23e1.html
