China reveals 2026 budget focusing on defense and science
Premier Li Qiang of the Chinese State Council presented the country’s 2026 budget at the 4th session of the 14th National People's Congress. Key priorities include funding for foreign affairs, national defense, education, science and technology, building central material reserves, and paying coupons on government bonds.
Defense spending is set to increase by 7% to 1.91 trillion yuan (approximately $277 billion). Public security funding will rise by 5.9% to 258 billion yuan ($37 billion). Science and technology-related expenditures will grow by 10% to 426 billion yuan ($60 billion), with fundamental research budgets up 16.3% and R&D expenses by 7%. Foreign affairs spending will increase by 9.3% to 71 billion yuan ($10 billion).
This budget signals China's ongoing commitment to strengthening its military capabilities and science sector, likely influencing global economic and political dynamics in the coming years.
