China to increase defense spending 7.2%, sets economic growth target of ‘around 5%’ for 2023

China has set an official economic growth target of “around 5%” for 2023, as it seeks to revive the world’s second-largest economy after a year of tepid growth because of pandemic measures. It will also expand its defense budget 7.2%, marking a slight increase over growth the previous year. Both figures for the coming year were released at the opening of the annual gathering of the National