China boosts defence spending as regional disputes heat up

China will spend 1.665 trillion yuan ($231.4 billion) on defence in 2024, according to the budget report that lays out the government's financial plans for the year ahead. It has the world's second-largest defence budget behind the United States, even though the People's Liberation Army (PLA) surpasses the US military by number of personnel. China's boost in spending is also a cause for concern for self-ruled Taiwan.