China will raise defense spending by 7.1% in 2022, faster than last year

China's defense spending this year is set to grow at its fastest pace since 2019, according to the Ministry of Finance plan released Saturday.

Defense spending will rise by 7.1% to 1.45 trillion yuan this year, faster than the 6.8% increase in 2021 and 6.6% climb in 2020, according to official data.Total central government expenditures for the general public budget are expected to rise by 14.3% to 13.40 trillion yuan this year, the finance ministry said.

"We will move faster to modernize the military's logistics and asset management systems, and build a modern weaponry and equipment management system,"according to an official English-language version. Li's other statements about military development and foreign policy remained in line with those of 2021. He said that "China will continue to pursue an independent foreign policy of peace."

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