Biden signs 895 billion US dollar defense budget for 2025

U.S. President Joe Biden signed the National Defense Authorization Act (NDAA) for the fiscal year 2025 on Monday, which boosts the United States' military spending to 895 billion U.S. dollars, marking a 1 percent increase from the previous fiscal year.

This NDAA, passed by the Congress, outlines the Pentagon's annual budget and serves as a guiding document for the country's defense policy. The signing of the bill ensures continued funding for various defense programs, including military personnel, equipment procurement, and ongoing defense initiatives.

However, the decision to increase military spending has sparked controversy. Some members of the Congress have voiced concerns over the allocation of such a large budget amidst growing domestic challenges. Critics also argue that the defense budget has become a tool for large contractors to profit, rather than serving the needs of the nation.

Biden signs 895 billion US dollar defense budget for 2025

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025