Li Shangfu

Force in Play

Expelled from the Chinese Communist Party; under investigation for corruption

For eleven consecutive years, China has increased its military budget by single-digit percentages that nonetheless outpace its own economic growth. The latest installment—a 7% boost to roughly 1.91 trillion yuan ($275 billion), announced at the National People's Congress on March 5, 2026—sets a new record even as Beijing simultaneously lowered its gross domestic product growth target to a range of 4.5–5%, the least ambitious economic goal since 1991. The gap between military spending growth and economic growth has become the signature of a government that treats armed forces modernization as non-negotiable.

Updated Mar 5