Chinese Defense Budget 2018 (March 6) (Prediction Thread)

[Figaro]

China to raise its defense budget by 8.1 percent to 1.11 trillion yuan ($175 billion) in 2018, up from last year's 7 percent: budget report

https://twitter.com/x/status/970455072675999744

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kinda disappointed... it is what it is i guess... :/

Why "kinda dissapointed"? This is a considerable improvement over the last two years, where the budget remained in the low 7% range. Anyone expecting a return to 10% increase is being unrealistic given the Chinese military advances in recent years ... back then, they needed to pump extraordinary expenditures to make up for a deficient base and close the gap with foreign powers ... now, the military is largely developed. Besides, as the military budget is growing rapidly, the total dollar amount has actually increased more than previous years (a 10% increase in 2015 is smaller than a 8.1% increase in 2018)

 

[Dungeness]

China to raise its defense budget by 8.1 percent to 1.11 trillion yuan ($175 billion) in 2018, up from last year's 7 percent: budget report

https://twitter.com/x/status/970455072675999744

​

kinda disappointed... it is what it is i guess... :/

It only amounts to 1.37% of 12.8 trillion GDP. China should spend at least 1.5%.

 

[terranMarine]

There's no point trying to catch up with US spending. US can print money out of thin air which is why their budget has always been astronomically high. China is spending it wisely and even with a lower budget compared to the US we can see how many advanced stuffs coming out.

 

[Beast]

There's no point trying to catch up with US spending. US can print money out of thin air which is why their budget has always been astronomically high. China is spending it wisely and even with a lower budget compared to the US we can see how many advanced stuffs coming out.

Their printing money out of thin air will depend how much US debt, China willing to buy. US defense spending is not unlimited. With China launching her oil yuan and oil bond. China has less appeal to buy more US debt. Plus with their ever greedy defense contractor,R/D spending on defense is getting so ridiculous high like F-35. It kill most of US important projects.

 

[terranMarine]

Their printing money out of thin air will depend how much US debt, China willing to buy. US defense spending is not unlimited. With China launching her oil yuan and oil bond. China has less appeal to buy more US debt. Plus with their ever greedy defense contractor,R/D spending on defense is getting so ridiculous high like F-35. It kill most of US important projects.

Also many expensive projects ended up in failure, like the Zumwalt or wasted money on XM25

 

[cirr]

8.1 is Army Day(August 1, anniversary of the founding of the PLA), very fitting.

China to increase 2018 defense budget by 8.1 percent

2018-03-05 08:39 Xinhua Editor: Gu Liping

Naval aviators and a shipboard helicopter stand by on the helipad of the Mianyang frigate following captain's orders. (Photo/81.cn)

China will raise its defense budget by 8.1 percent in 2018, according to a budget report to be submitted to the national legislature Monday, up from last year's 7 percent.[Special coverage]

The 2018 defense budget will be 1.11 trillion yuan (175 billion U.S. dollars), according to the report available to media before the first session of the 13th National People's Congress opens Monday morning.

Although slightly higher than the previous two years, the growth rate is the third time to dip into the single digit since 2013, following 7.6 percent in 2016 and 7 percent in 2017.

China's defense budget takes up a smaller share of its gross domestic product (GDP) and national fiscal expenditure compared with other major countries, said Zhang Yesui, spokesperson for the first annual session of the 13th NPC, at a press conference on Sunday.

Its military spending per capita is also lower than other major countries, Zhang said.

"A large part of the growth of the defense budget is to make up for the low military spending in the past and is mainly used to upgrade equipment and improve the welfare of servicemen and women and the living and training conditions of grassroots troops," he said.

http://www.ecns.cn/2018/03-05/294509.shtml

 

[Beast]

Also many expensive projects ended up in failure, like the Zumwalt or wasted money on XM25

The US crap railgun still not install onboard ship for testing while China has already started.

 

[Torch_v2.0]

Don't Get disappointed lads ,
Chinese are smart people , they know what they are doing !!

 

[Shotgunner51]

It only amounts to 1.37% of 12.8 trillion GDP. China should spend at least 1.5%.

We don't know about 2018 yet, so might as well as use 2017 actual numbers, defense spend is only 1.26% of GDP (see below for details). But yes you're right, this is an incredibly low level of spending.

P.S: China 2017 GDP RMB 82.7122 trillion; 2017 DoD spend RMB 1.044397 trillion

China's defense budget takes up a smaller share of its gross domestic product (GDP) and national fiscal expenditure compared with other major countries

Absolutely