Speaking at a seminar at the University of Hong Kong on February 23, Jin Canrong, Associate Dean of the School of International Studies at Renmin University, said China had made great strides in expanding its military capability, but there was a lot more to come. He also said there would be "something new" at this years October parade, but did not clarify what it might be. Saying that China is gearing up for a possible conflict over Taiwan, he said over the next five or 10 years, Taiwan could provide the “biggest uncertainty” for Beijing, he said, especially if the US decided to “ignite” the situation. Jin Canrong added that while Beijing wanted a peaceful reunification, it was wary of “pro-independence factions [on the island] and right-wing American [politicians] creating trouble”. Jin Canrong said China was rapidly expanding its missile capabilities. The PLA had already stockpiled about 3,000 short- and medium-range missiles, he said, even though it had been using just 15 per cent of its production capacity. “Just imagine if we were running at 100 per cent,” he said. Jin Canrong added that China had achieved “great advancements in space, electronics and cyberwarfare”, but its achievements to date were only the beginning. As well as the expansion of its missile force, Beijing was investing heavily in its navy. He said with the deployment of the new Type 055 guided-missile destroyer – which some Chinese military experts have said is as good as anything in the US Navy – the balance of power was shifting. “For the first time in 500 years, the East has combat equipment that is at least as good as the West’s.” He asserted “When we have dozens of destroyers and four or five [aircraft] carriers the US will not be able to meddle in Taiwan.” Jin Canrong said that China would also soon have all the scientific, academic and research personnel it needed to achieve its military ambitions. “China had nearly 30 million university students in 2018, which is twice as many as the US. More than half of them are studying science or engineering.” He said “Every year we produce about 4 million science and engineering graduates, while America produces just 440,000.” He said Beijing also had the money to support its plans, and that based on his own calculations, China had allocated about 1.4 per cent of its gross domestic product to military spending, which was lower than “Germany’s 1.5 per cent”, and less than half the “3 per cent in Britain and France”. Jin Canrong said “The tax paid by Chinese smokers is more than enough to cover [the country’s] military expenses.” (Both the World Bank and the UN put China’s military spending in 2017 at 1.9 per cent of its GDP.)