China raises 2018 defence spending by 8.1 percent

 

Zhang Yesui, a spokesman for National People's Congress (NPC), addresses reporters ahead of China's annual session of parliament at the Great Hall of the People in Beijing, China March 4, 2018. REUTERS/Damir Sagolj

 

BEIJING (Reuters) - China said on Monday its military budget this year would grow 8.1 percent from 2017, a larger increase than the previous two years even as the country kept its overall economic growth target the same.

 

The 2018 defence budget will be 1.11 trillion yuan (£128 billion), according to a budget report issued at the opening of the country's annual meeting of parliament.

 

Last year the defence budget was set to increase by just 7 percent, to 1.044 trillion yuan ($164.60 billion) about one-quarter of the proposed U.S. defence spending for the year.

 

The budget increase, a figure that is closely watched around the world for clues to China's strategic intentions, comes as economic growth has picked up, expanded 6.9 percent last year, the first acceleration in annual growth since 2010.

 

China kept its 2018 economic growth target at around 6.5 percent, Premier Li Keqiang said in remarks prepared for delivery at the parliament's opening session, the same as in 2017 despite the pick up in growth.

 

China will "advance all aspects of military training and war preparedness, and firmly and resolvedly safeguard national sovereignty, security, and development interests", Li said.

 

"Faced with profound changes in the national security environment" the absolute leadership of the military by the ruling Communist Party must be observed, and the unity between the government and the military and the people and the military must always be "strong as stone", he said.

 

(Reporting by Christian Shepherd; Writing by Michael Martina; Editing by Kim Coghill and Michael Perry)

 

-- © Copyright Reuters 2018-03-05

Uh oh here we go, Arms Race

It probably because of all their NEW islands in the south China sea that they need to protect, so need new

surface to air missles, and guns, guard houses, etc. Maybe they are expecting a new enemy or two.

Geezer

39 minutes ago, Stargrazer9889 said:

It probably because of all their NEW islands in the south China sea that they need to protect, so need new

surface to air missles, and guns, guard houses, etc. Maybe they are expecting a new enemy or two.

Geezer

US are raising their military spending by 10 %.  Maybe they are expecting a new enemy or two.

3 hours ago, Nice Boyd said:

Uh oh here we go, Arms Race

They would have to increase their spending by 150% to catch up with the world leader and defender of democracy and human rights.

Edited March 5, 20188 yr by maximillian

 

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