China increases military spending in face of 'escalating' threats

TOPSHOT - Delegates leave after the opening session of the National People's Congress (NPC) at the Great Hall of the People in Beijing on Sunday, March 5, 2023. - AFP

BEIJING, March 5, 2023 (AFP): China said Sunday its military spending would rise at the fastest pace in four years, warning of "escalating" threats from abroad at a meeting of its rubber-stamp parliament that will hand Xi Jinping a third term as president.

The increase in the world's second-largest defence budget came as Beijing announced an economic growth goal of around five percent for this year -- one of its lowest in decades.