Chinese aerospace, defence stocks rally as government plans to boost defence spending by 7.2% this year
MARKET POLICY & REGULATION STOCKS
Chinese aerospace, defence stocks rally as government plans to boost defence spending by 7.2% this year
MARKET POLICY & REGULATION STOCKS

Chinese aerospace, defence stocks rally as government plans to boost defence spending by 7.2% this year

 

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Chinese aerospace and defence stocks rally on Monday, with an index tracking the sector compiled by Wind Information up 1.3% as of 9:49 am, making it one of the best-performing sectors in the A-share market.

The rally came after Chinese Premier Li Keqiang said in his government work report that China will boost defence spending by 7.2% to 1.55 trillion yuan ($224 billion) this year, slightly outpacing last year’s increase and expected economic growth.

“Our armed forces, with a focus on the goals for the centenary of the People’s Liberation Army in 2027, should work to carry out military operations, boost combat preparedness and enhance military capabilities,” he said.