China Increases Defence Budget to $275 Billion Amid Geopolitical Tensions
China has raised its defence budget to $275 billion, marking a $25 billion increase from the previous year. This budget, announced by Premier Li Qiang at the National People's Congress, is part of China's ongoing efforts to modernise its military capabilities. The increase comes during a period of heightened geopolitical tensions, including recent conflicts with India and ongoing issues in the Middle East. China's defence spending remains the second highest globally, significantly surpassing India's budget. In addition to military spending, China plans to inject 300 billion yuan ($43.59 billion) into state-owned banks to address financial risks amid a property crisis and weak consumer confidence.
Published 1 day ago • 05 Mar 2026, 09:29 AM IST