China is allocating 1.55 trillion yuan ($225 billion) to defense this year, an increase in the defense budget by 7.2%, according to Bloomberg.
China is seeking to build a “world-class force” by 2027, a deadline that coincides with the 100th anniversary of the People’s Liberation Army.
However, the investments are far less than the US, which is spending $773 billion on its defense this year, putting China a distant second.
