China's Defense Budget 2019-2023. Graphic:Global Times
* China plunges $230bn into its military budget to 'boost combat preparedness'
* It reverses a two-decade trend where China has prioritized growth over defense
* Concerns are mounting that China is set to launch an invasion of Taiwan
China announced it will boost its military budget by nearly $230 billion this year amid concerns it will launch an invasion of Taiwan.
The money is set to 'boost combat preparedness and enhance military capabilities,' claimed Premier Li Keqiang ahead of a draft budget presented to the National People's Congress in Beijing.
It means China's military spending will grow at its fastest pace in four years and take up a larger share of its economy, marking the reversal of a two-decade trend which has seen the nation prioritize growth over its military capabilities.
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China Boosts Military Budget By 7.2%
Update-China Focus: China's 2023 defense budget to rise by 7.2 pct, remaining single-digit for 8th year -- Xinhua (China)
China's 2023 defense budget to rise by 7.2%, a 'reasonable, restrained' increase amid global security tensions -- Global Times (China)
China boosts military budget while warning of escalating threats -- BBC
China plans 7.2% defence spending rise this year, faster than GDP target -- Reuters
China boosts military spending by billions as US warns of potential Taiwan invasion -- FOX News
China boosting defense budget to $224B over Taiwan strife, Russia, Ukraine war -- NYPost
Eye on Taiwan? Why China's move to raise military spending raises concerns -- India Times
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