China hikes defense budget by 6.8% in 2021, faster than 6.6% growth last year

BEIJING, March 5 (Global Times): China increased its 2021 defense budget by 6.8 percent to 1.35 trillion yuan (US$209 billion) in a quicker pace than last year's growth, which analysts believe is normal, steady and restrained as the country resiliently emerges from the wreckage of Covid-19 pandemic.

The budget increase, released in a draft budget report issued at the opening of the annual session of the National People's Congress (NPC), the country's top legislature, on Friday, is slightly higher than the 6.6 percent hike in 2020 when the country and the rest of the world were still struggling to fight the unprecedent Covid-19 pandemic that upended the globe.