China says it will increase its defense budget 7.2% this year as it continues its campaign to build a larger, more modern military to assert its territorial claims and challenge the U.S. defense lead

China increases its defence spending by 7.2% - the third year in a row - as it says more is needed to deter the United States.

China's defence spending will rise by 7.2 percent in 2025, the same as last year, Beijing said on Wednesday, as its armed forces undergo rapid modernisation and eye deepening strategic

Xi aims to complete full military modernization by 2035, with China's military developing new missiles, ships, submarines and surveillance technologies

President Xi Jinping wants to increase China's military budget by 7.2 percent. The government presented a draft budget to this effect on Tuesday at the annual meeting of the People's Congress. Defense spending will then amount to around £193 billion.