China’s Air Force displays its L15 Falcon training aircraft on the 2022 Zhuhai Air Show. The country has an agreement to export the aircraft to the United Arab Emirates.
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BEIJING — China is ready to increase defense spending this 12 months by 7.2% to 1.56 trillion yuan ($230 billion), according to a project released Sunday by the Ministry of Finance.
According to official data, China’s defense budget increased by 7.1% to 1.45 trillion yuan last 12 months, faster than the increase of 6.8% in 2021 and 6.6% in 2020.
In 2019, China’s defense spending increased by 7.5% to 1.19 trillion yuan.
In a separate Sunday report on the federal government’s work, Prime Minister Li Keqiang made no mention of the Russo-Ukrainian war. “We must always remain committed to an independent, peaceful foreign policy,” the report said.
The working report called for “decisive steps to oppose ‘Taiwan independence'” while adhering to Beijing’s call for “peaceful reunification”.
Taiwan is a democratically governed, self-governing island that Beijing considers a part of its territory.