In terms of progress made to spending ratio, PLA has been doing impressive for many years. I see no need to change the status quo.
What's the rush?
You people simply don't get it. Is it really too much to ask for the defence spending to grows parallel to the economy? economy grows 8%, defence then should go up 8%, economy grows 4%, then defence should at least be 4% too, higher would ofc be better, it's really simple. However, what we have had for at least the last 15-20 years is a complete negligence in trying to ramp up the defence spending in conjunction with the growing economy, hence for such a long period of time, defence spending as a percentage just keeps going down, all the way now to the comical 1.27% (again that too using 2021 GDP, so it's actually even lower).China is not going to drastically increase its military spending
If you still can't comprehend the absurdity, let's compare it to japan. Japan, whose defence is already helped by the american's colony in their soil, and with how they legally forbid themselves to have a lot of attack/strike oriented capability, has a , and given their trend the rate will continue to increase as their economy is already stagnant. What's your excuse now for china to has a defence spending that's LOWER than japan??
So please, change your mindset and get a sense of the urgency, start behaving like you're from a country with 18.1 trillion dollars economy and 1.4 billion populations currently facing security challenges from india in the west, south china sea and taiwan contingency in the south east, and the american with its puppets in the east.