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Significant increase in the military budget

China plans to increase its military budget again at a rate similar to “normal” years, despite the high cost of economic recovery in the wake of the COVID pandemic. Chinese experts expect an increase of around seven percent this year, according to state media, as reported by the dpa news agency. In 2020, China had spent ¥1.27 trillion (€147 billion) on the military. With an increase of seven percent, this would be around ¥1.36 trillion (€158 billion) in 2021.

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