China Boosts Defence Budget to $275 Billion for Military Modernization

• China has increased its defence budget to USD 275 billion, marking a significant hike for military modernization.
• The substantial allocation aims to accelerate the modernization of its armed forces, striving to match the US military's capabilities.
• Premier Li Qiang announced the 1.9 trillion yuan (USD 275 billion) budget during his work report at the National People’s Congress.
• China's defence spending, second only to the US, puts pressure on India and other neighbouring countries to scale up their own budgets.
• The transparency of China's defence figures is questioned amidst its rapid military expansion, including advanced naval ships and stealth aircraft.