The Latest Breaking News from NPC

China said Sunday its military spending would rise at the fastest pace in four years, warning of "escalating" threats from abroad. The country's planned budgets for the year put defense spending at 1.55 trillion yuan ($225 billion), a 7.2 percent rise and the quickest rate of increase since 2019.

China said Sunday its military spending would rise at the fastest pace in four years, warning of "escalating" threats from abroad at a meeting of its rubber-stamp parliament that is set to hand Xi Jinping a third term as president.

Outgoing premier Li Keqiang told delegates at the National People's Congress that China is aiming to rebound economically after COVID slowed them down

At the opening of the Communist party’s National People’s Congress, outgoing premier Li Keqiang confirmed a further rise in defence spending as well

China’s parliament set to hand Xi Jinping third term as president and implement biggest government shake-up in a decade.

BEIJING - China's rubber-stamp parliament kicks off nine days of meetings Sunday, with lawmakers set to hand Xi Jinping a third term as president as well as unveil fresh growth targets and an increase in defence spending.

China needs to increase its military budget to meet “complex security challenges,” a top Chinese official said, amid rising geopolitical tensions with the U.S.

Spokesperson does not specify figure but announces rise is needed to meet complex security challenges

We expect the meeting to set the GDP growth target at ‘around 5%’ with supportive macro policies, including a higher headline fiscal deficit, small increase of new special local government bond quota and more property policy easing, the bank’s chief China economist Wang Tao says

The NPC, China’s rubber-stamp parliament, will gather this weekend to approve far-reaching changes, and Xi’s unprecedented third term as president

The annual meetings of China’s parliament and political advisory body will include a GDP forecast for 2023.