China raises military spending by 7.2%, vows to ‘resolutely' deter Taiwan ‘separatist activities'

China is set to increase its defense spending by 7.2% to 1.67 trillion yuan in 2024, according to a Ministry of Finance budget report. China’s 2024 military budget expansion follows a 7.2% increase last year, a 7.1% spike in 2022, 6.8% increase in 2021, 6.6% climb in 2020, and 7.5% growth in 2019. In the government’s work report, Beijing vowed to “resolutely oppose separatist activities aimed at ‘Taiwan independence’ and external interference.” This year’s military budget announcement coincides with several generals from the People’s Liberation Army losing their positions amid President Xi Jinping’s anti-corruption probe. China’s military budget is the second largest in the world, and tensions have heightened between Beijing and its neighbors over territorial disputes.