Military expenditure of China, Russia and U.S. in constant 2021 US$ billionsThe military budget of China as a percentage of GNP
The military budget of China is the portion of the overall budget of China that is allocated for the funding of the military of China. This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and development and procurement of new weapons, equipment, and vehicles. Every March, as part of its annual state budget, China releases a single overall figure for national military expenditures.[citation needed]
As of 2023[update], the official military budget was announced to be 1.55 trillion yuan, the second largest in the world behind the US.[1]
According to the Stockholm International Peace Research Institute, SIPRI, China became the world's fifth largest exporter of major arms in 2014–18, an increase of 2.7 per cent from the period 2010–2014. China supplied major arms to 53 states in 2014–18. Pakistan was the main recipient of these transfers, standing for 37%, whilst the remaining exports were small in volume, but with a wide variety of countries.[2]
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