Taiwan will introduce an additional defense budget of 1.25 trillion Taiwan dollars, or about $40 billion, as China accelerates military preparations around the island.
President Lai Ching-te said the move was taken to strengthen defense capabilities in the wake of increased security pressure from Beijing.
China continues to intensify military exercises and "gray zone" disruption activities around Taiwan, with the goal of forcibly seizing the island by 2027. At the same time, Beijing has also increased its influence and infiltration campaign to interfere in politics and shape public perception, which is seen as having the potential to undermine Taiwan's democratic system.
Lai also warned of China's large-scale military buildup and increased provocations in the Taiwan Strait, East China Sea, South China Sea and the entire Indo-Pacific region.
Beijing, meanwhile, insists that Taiwan is part of its territory and continues to increase military pressure on Taipei, including through large-scale exercises in nearby waters.
China is also reportedly increasing its defense budget by 7.2% to around $245 billion this year, while Taiwan aims for a high level of combat readiness by 2027 to face any potential conflict.
Taipei's move is also seen as a signal to the United States of Taiwan's serious commitment to self-defense.
Washington welcomed the special budget and supported efforts to accelerate the acquisition of asymmetric military capabilities to strengthen deterrence strategies.
However, China insists that Taiwan's efforts to resist reunification through military force are futile, and criticizes US support and Japan's interference in issues involving Taiwan.
Regional tensions continue to rise as Beijing also clashes diplomatically with Tokyo over any possible use of military force in the Taiwan Strait, thus increasing geopolitical risks in East Asia.
