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China announced that its military budget, the second in the world following the United States, will increase by 7.2% in 2023, 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.
Beijing plans to spend 1.553.7 billion yuan ($225 billion) on its defense, three times less than Washington’s budget..
