China increases 2016 defense spending by 7-8%

(Baonghean.vn) - According to AP, China's increase of up to 150 billion USD/year is still quite modest compared to the US budget threshold of 573 billion USD/year.

Chinese soldiers take part in a parade marking the 70th anniversary of the victory over Japanese fascism. Photo: AP.

China will increase defense spending by 7-8 percent this year, a senior official said, smaller than the double-digit increases in previous years as Beijing seeks to build a more efficient military.

China's budget will reach approximately 980 billion yuan ($150 billion) as Beijing seeks to increase its military power and assert its illegal claims in the South China Sea, which have increased tensions with regional neighbors as well as Washington.

China's defense spending last year rose 10.1 percent to $135.39 billion, but that's only about a quarter of the U.S.'s. The U.S. defense budget this year is $573 billion.

“China’s military budget will continue to increase this year, but the increase will be lower than previous years, between 7 and 8 percent,” said Fu Ying, spokeswoman for China’s National People’s Congress.

The exact figure will be announced tomorrow (March 5), at the opening session of the National People's Congress, Ms. Pho Oanh added.

The slowdown in China's defense spending comes as Chinese President Xi Jinping seeks to make the People's Liberation Army (PLA) - the world's largest standing army - more effective.

At a parade in Beijing last year to mark the 70th anniversary of the victory over Japanese fascism, Mr. Xi announced that the PLA would reduce its troop numbers by 300,000.

Thu Giang

(According to AP, Guardian)