11:10 - 5.03.2022

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March 5, Fineko/abc.az. The growth of China's defense spending is envisaged at the level of 7.1% in 2022.

ABC.AZ reports that the Chinese government plans to increase defense spending to 1.451 trillion yuans this year (to about $229.5 bn).

The draft budget was announced at the 5th session of the National People's Congress (NPC, the highest state authority of China) of the 13th convocation, which opened in Beijing on Saturday.

"National defense expenditures are envisaged in the amount of 1.45 trillion yuans with an increase of 7.1%," the document says. Public security spending will increase by 4.7% up to 194.99 bn yuans (about $30.8 bn).