Beijing will slow its military investment as the country grapples with the economic turmoil wrought by the coronavirus pandemic.
China's defense expenditure is set to grow at its slowest rate for three decades as Beijing grapples with the coronavirus crisis, despite growing tensions with the U.S. that some observers have likened to a new Cold War.
Though still a significant rise, it marks the slowest increase in three decades. Beijing has poured enormous sums into transforming its mammoth, low-tech Cold War-era forces into a modern high-tech military capable of a range of operations—includingThe investment has seen China become the second-biggest military spender in the world, though its budget is still less than half that of the U.S.
"We will deepen reforms in national defense and the military, increase our logistic and equipment support capacity, and promote innovative development of defense-related science and technology," Li told NPC delegates.
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