China's 2026 defense budget to grow by 7%

According to the 2026 draft budget report, state financing will be directed towards army strengthening, enhancing combat readiness, improving the national strategic system, and modernizing the country's defense sector and armed forces.

The figures indicate a slight adjustment in the pace of growth of the defense budget compared to the previous three‑year period. In 2023, 2024, and 2025, defense spending increased by 7.2%, amounting to $224 billion, $231 billion, and $246 billion respectively.

The document was presented on Thursday, at the opening of the 4th session of the 14th Chinese People's Political Consultative Conference (CPPCC) National Committee, ongoing in Beijing from March 5 to 12.

Earlier, it was reported that China set a 4.5 percent to 5 percent economic growth target this year and will strive for better in practice, according to a government work report submitted Thursday to the country's top legislature for deliberation.