China spends $132 billion on military spending in 2014
On March 5, the Chinese government announced that the country will increase military spending by 12.2% in 2014 to 808.23 billion yuan (about 132 billion USD), continuing the double-digit increase in the defense budget over the past two decades.
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| J-15 aircraft landed on the Liaoning aircraft carrier, China. (Source: THX-TTXVN) |
In 2013, China led the arms race in Asia in 2013, with total defense spending reaching 720.197 billion Yuan, an increase of 10.7% over the previous year./.
According to VNA
