- China reaffirms accuracy of economic data
- Emphasizes transparency in military spending
- Responds to U.S. criticism with confidence
Eko hot blog reports that China has reaffirmed the accuracy of its economic statistics and emphasized the transparency of its military budget, countering recent remarks by the head of the U.S. Indo-Pacific Command regarding the country’s economic situation and defense expenditure.
In March, China announced a 7.2% increase in defense spending for the year, allocating 1.55 trillion yuan ($214 billion), surpassing last year’s growth rate and outpacing economic growth forecasts.
U.S. Admiral John Aquilino raised concerns about China’s economy during a speech on Tuesday, casting doubt on its official growth figures and linking the increase in defense spending to economic instability caused by challenges in the real estate sector.
China speaks on economic data
Responding to Aquilino’s comments, China’s foreign ministry defended the transparency of its economic data, highlighting the confidence expressed by international financial institutions following China’s first-quarter economic performance.
“The release of China’s economic data has always been open and transparent, and is highly recognized by society,” the ministry stated.
Furthermore, China asserted that its defense spending is both transparent and reasonable, emphasizing its compliance with the United Nations military expenditure transparency system and its regular submission of reports on military expenditures.
According to the ministry, increased defense spending is necessary to address security challenges, protect China’s legitimate interests, and fulfill its international obligations as a major global power.
China also criticized the United States for its double standards regarding military expenditure, highlighting America’s position as the world’s largest military spender.
Amidst ongoing geopolitical tensions, China’s defense of its economic and military policies underscores its commitment to maintaining stability and asserting its position on the global stage.