Chinese international expert Jin Canrong pointed out on Weibo today (5) that if the CCP successfully increases the national GDP by 5%, the defense budget in 2023 will only account for 1.2% of the total GDP, which is far lower than that of other major countries.

(Photo taken from Weibo)

[Instant News/Comprehensive Report] Jin Canrong, deputy dean of the School of International Relations at Renmin University of China and a Chinese political scientist, posted on Weibo today (5th), saying that if the CCP successfully reaches the 5% GDP growth rate set in the work report in 2023, China will GDP will exceed NT$560 trillion, but China's defense budget accounts for only 1.2% of GDP, which is far lower than other major countries in the world.

The Ministry of Finance of China announced the latest draft budget. In 2023, China’s national defense budget will increase by 7.2%, and the total amount will reach about NT$6.8 trillion, which is more than 11 times of Taiwan’s national defense budget of NT$586.3 billion this year.

Chinese international expert Jin Canrong pointed out on Weibo today that this is the third consecutive year that the defense budget has increased since 2021; overall, China's defense budget has indeed increased year by year, but he also mentioned another point of view.

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He continued, if converted according to the 5% GDP growth rate set by the CCP’s work report, China’s national GDP will exceed NT$560 trillion in 2023, and China’s defense budget of 6.8 trillion yuan will account for about 1.2% of the total GDP, which is far lower than in other major countries of the world.

He cited various countries as examples. The proportion of the United States is 3.5%, Russia is 4%, India is 2.5%, the United Kingdom is about 2%, and France is about 2%.

According to a Hong Kong 01 report, the 2023 defense budget drafts of Asian countries have also been exposed one after another.

If the cost of building an aircraft carrier is not included, South Korea’s defense budget is about NT$1.2 trillion; Japan’s is NT$1.6 trillion, an increase of 26.3%, and India’s defense budget reaches NT$2.2 trillion, an increase of 13%.