The 2024 central and local budget draft shows that this year the central level will arrange a defense expenditure budget of 1.66554 billion yuan, an increase of 7.2%, the same as last year. China's defense expenditure is to respond to the complex security challenges it faces and to maintain regional stability and world peace.
China has always pursued a defensive national defense policy and unswervingly followed the path of peaceful development. "The improvement of China's military capabilities will benefit not only China, but also the world," Yang Mingjie said.