Last year military spending was budgeted to increase by just 7 percent, to 1.044 trillion yuan ($164.60 billion) about one-quarter of the proposed US defence spending for the year. Zhang said all countries adjusted their military spending depending on defensive needs and the state of the economy. “In recent years, China has moderately raised defence investment,” he told a news conference. However, proportionally, China’s defence spending is less than other major countries, he said. The actual number for defence spending should be released on Monday, when China’s largely rubber-stamp parliament begins its annual session, though last year it was initially not announced, prompting concerns about transparency.

Source: Indian Express March 04, 2018 07:52 UTC