The Chinese authorities announced an increase in the defense budget by 7.2% in 2023

The Chinese authorities announced that its military budget, the second in the world after the United States, will increase by 7.2% in 2023, in a slight acceleration compared to last year.

This rate, which is higher than it was in 2022 (7.1%), was announced in a report by the Ministry of Finance published on the sidelines of the annual session of the House of Representatives. China plans to spend 1.553.7 billion yuan ($225 billion) on its defense, three times less than Washington’s budget.