China hikes defence budget to record high, still trails behind US spending by considerable margin

By Khumaer Bayas On Mar 5, 2025

China on Wednesday announced a 7.2 per cent increase in its national defence budget, totalling USD 249 billion. The hike is being seen as Beijing’s attempts to modernise armed forces, including the paced development of warships and new-generation fighter jets. Notably, China has the world’s second-largest military budget after the US, whose latest defence spending amounted to over USD 890 billion as proposed by President Donald Trump.

What was China’s defence budget last year?
In terms of the Chinese currency, the defence budget amounts to 1.784665 trillion yuan, according to a draft budget report submitted to China’s Parliament by Premier Li Qiang, the state-run Xinhua news agency reported. Last year, China increased its defence budget by 7.2 per cent to about USD 232 billion (1.67 trillion yuan).

Critics view China’s defence budget with scepticism in light of massive military modernisation, including building aircraft carriers, rapid construction of advanced naval ships, and modern stealth aircraft being carried out at a feverish pitch by the Chinese military.

Here’s what Chinese Premier Li Qiang said on defence budget
While announcing the annual budget at the opening of the annual session of China’s parliament, the National People’s Congress (NPC), Chinese Premier Li Qiang said last year that China made major new progress in national defence and military development.

Li emphasised the Chinese President Xi Jinping’s core leadership of the ruling Communist Party as well as the People’s Liberation Army (PLA) and the military following the party leadership. Xi is also the Chairman of the Central Military Commission (CMC), which is the overall high command of the military.

“We will stay committed to the Party’s absolute leadership over the people’s armed forces, thoroughly implement the system of ultimate responsibility resting with the chairman of the Central Military Commission, and continue improving the political conduct of the military,” he said.

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