Military budget of China

Official announcements

The Chinese government annually announces the budget for the internal security forces and the PLA at the National People's Congress in early March.

• 2014: the budget was announced to be US$131billion.
• 2015: the budget was announced to be US$141billion. At the same time, the Chinese government estimated the Chinese economy to grow 7% in 2015.
• 2016: the budget was announced to be 954.35 billion yuan (US$147 billion), raised 6-7 % above last year's estimates.
• 2017: the budget was announced to be 1.044 trillion yuan ($151.4 billion), which is an increase of 7% over the last year.
• 2018: the budget was announced to be 1.11 trillion yuan (US$175 billion), which is an increase of 8.1% over the last year. This was China's largest defense budget raise in three years.
• 2019: the budget was announced to be 1.19 trillion yuan (US$176 billion), which is an increase of 7.5% over the last year.
• 2020: the budget was announced to be 1.27 trillion yuan (US$178 billion), which is an increase of 6.6% over the last year.
• 2021: the budget was announced to be 1.35 trillion yuan (US$209 billion), which is an increase of 6.8% over the last year.
• 2022: the budget was announced to be 1.45 trillion yuan (US$230 billion), which is an increase of 7.1% over the last year.
• 2023: the budget was announced to be 1.55 trillion yuan (US$224 billion), which is an increase of 7.2% over the last year.
• 2024: the budget was announced to be 1.67 trillion yuan (US$231 billion), which is an increase of 7.2% over the last year.
• 2025: the budget was announced to be 1.78 trillion yuan (US$246 billion), which is an increase of 7.2% over the last year.

Unofficial estimates

Unofficial estimates place the total amount of military spending for China higher than the Chinese government figures, but these calculations tend to differ between organizations.

A RAND Corporation study for year 2003 estimated China's defense spending to be higher than the official number but lower than United States Department of Defense calculations. The defense spending of China was estimated, in the mid-range estimate, to be 38 billion dollars or 2.3% of China's GDP in 2003. The official figure was 22.4 billion dollars. Nevertheless, Chinese military spending doubled between 1997 and 2003, nearly reaching the level of the United Kingdom and Japan, and it continued to grow over 10% annually during 2003–2005.

In 2010, the US Department of Defense's annual report to Congress on China's military strength estimated the actual 2009 Chinese military spending at US$150 billion. Stockholm International Peace Research Institute (SIPRI) estimates that the military spending of the People's Republic of China for 2009 was US$100 billion, higher than the official budget, but lower than the US DoD estimate.

The International Institute for Strategic Studies in a 2011 report argued that if spending trends continue China will achieve military equality with the United States in 15–20 years.

Jane's Defence Forecasts in 2012 estimated that China's defense budget would increase from $119.80 billion to $238.20 billion between 2011 and 2015. This would make it larger than the defense budgets of all other major Asian nations combined. This is still smaller than the estimated United States defense budget of $525.40 billion for 2013. However, United States defense spending is slightly declining.

In 2017, the magazine Popular Mechanics estimated that China's annual military spending is greater than $200 billion, around 2% of the GDP.{{cite web|url=https://www.popularmechanics.com/military/weapons/a25261/china-west-military-power/|title=China's Military Power Nears "Parity" With the West, Report Says

In 2019, Peter Robertson, a professor from the University of Western Australia, argued that using conventional currency conversion as opposed to more accurate "purchasing power parity" (PPP) exchange rates dramatically understated China's military capabilities and that China's real military spending was equivalent to US spending of $455 billion, calculated from a PPP perspective.

In 2023, the Stockholm International Peace Research Institute estimated the China's military spending is $296 billion which accounted for 1.7% of the country total GDP.

A 2024 study by Taylor Fravel, George J. Gilboy, and Eric Heginbotham estimated China's total military spending for 2024 at US$471 billion.

Comparison with other countries

References

References

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