China has set aside 1.268 trillion yuan ($178.2 billion) for defense in 2020-2021.
The defense budget growth rate stands at 6.6%, halving from 12.7% in 2011, according to a draft budget report to be submitted to the National People’s Congress (NPC).
In 2019, China announced defense spending of around 1.2 trillion yuan ($177 billion) at the NPC, which is the world’s second largest.
China; 2021 Defense budget pegged at $178.2B