China Ramps Up Military Spending While US Looks to Cut Costs (1)

China is set to increase its defense spending by about 7.2% in 2025, matching last year’s growth and reflecting President Xi Jinping’s ambition to build a military that can challenge the US.

The outlay will rise to about 1.78 trillion yuan ($245 billion) this year, according to a Finance Ministry report released Wednesday at an annual parliamentary meeting in Beijing.

China’s rise in defense spending contrasts with the Trump administration’s plans to cut military funding by 8% over the next five years as part of a broader effort to reduce the federal budget and headcount. The US spends more ...