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China to raise defence budget by 7-8%
March 4, 2016, 5:39 am

China's defence budget this year will rise by about seven to eight percent compared with 2015, the government said on Friday [Xinhua]

China’s defence budget this year will rise by about seven to eight percent compared with 2015, the government said on Friday [Xinhua]

China will raise its defence budget by around 7 to 8 per cent this year, a spokesperson for the annual session of the national legislature said Friday.

At a press conference a day ahead of the Chinese Parliament’s annual session, spokesperson Fu Ying said the increase is in line with China’s national defence need and fiscal revenue.

“China’s military budget will continue to grow this year but the margin will be lower than last year’s and the previous years,” said the spokeswoman for the National People’s Congress (NPC).

The exact figure will be released in a budget report Saturday.

China’s defence budget rose by 10.1 per cent last year bringing it to 886.9 billion yuan ($141.4 billion).

Beijing has repeatedly reiterated the importance of the pacifist constitution of China.

“Fundamentally speaking, China’s defence policy is defensive in nature. This is clearly defined in the constitution. We will not easily change this direction and principle,” NPC spokesperson Fu said last year.

Last month, while presenting the military budget for 2017, US President Barack Obama exceeded the spending limits of the Congress.

According to the US Defense Department, it amounts to $583 billion, plus another $25 billion for appropriations including nuclear weapons program.

US Defense Secretary Ash Carter in February referred to Russia and China among the challenges driving the US Defense Department’s budget and planning.

 

TBP and Agencies