China Provides USD 208.47 Billion Fund For Defense Budget

Ilustrasi militer China. (Wikimedia Commons / Press Service of the President of Russia)

JAKARTA - The Chinese government has announced the amount of defense budget for 2021. As in previous years, the defense budget has again increased, although it is not significant.

In an announcement issued on Friday, March 5 local time, China's defense budget this year increased by 6.8 percent from last year's budget. This is in line with the establishment of an annual economic growth target of around 6 percent.

The total defense budget prepared this year reaches 1.35 trillion Chinese yuan or around USD 208.47 billion. Last year, China's defense budget was only 6.6 percent, the lowest in three decades due to the impact of the COVID-19 pandemic.

Chinese Prime Minister Li Keqiang in his speech before the Legislative Board said this year the government will strengthen the armed forces through reform, science and technology, and personnel training.

"We will enhance overall military training and preparation, making an overall plan to respond to security risks in all areas and for all situations. Increase the strategic capacity of the military to protect our country's sovereignty, security and state development interests", Li said in a government translation of his remarks, cited from Reuters.

"We will improve the layout of science and technology and defense-related industries, as well as perfect the defense mobilization system", he added, without elaborating.

China routinely says spending on defense purposes is a relatively low percentage of its Gross Domestic Product (GDP). While calling many critics trying to 'restrain' (the development of the defense posture) of the Bamboo Curtain Country, he calls it a threat to world peace.

The budget only provides raw figures for military spending. Many foreign diplomats and experts believe the country is not reporting the true number.

China's reported their defense budget in 2021 is about a quarter of the defense spending of the United States.

US defense spending totaled USD 714 billion in the fiscal year 2020 and is expected to increase to USD 733 billion in the fiscal year 2021.