February 5, 2023

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China hikes defence budget to USD 230 billion

The Chinese government has proposed the defence budget for the fiscal year 2022 at 1.45 trillion yuan (USD 230 billion), a 7.1 per cent year on year increase, state-run China Daily reported quoting the draft budget proposals presented by Premier Li Keqiang to the National People’s Congress (NPC), the country’s parliament on Saturday.