China plans to raise defence spending by 7.2%
China will boost defence spending 7.2 Percent this year, slightly outpacing previous year's increase and faster than the government's modest economic growth forecast, as prime minister Li Keqiang called for the armed forces to boost combat preparedness.
The 1.55 trillion yuan (224 billion US dollar) in military spending in the national budget released on Sunday is closely watched by China's neighbours and in Washington as a barometer of how aggressively the country will beef up its military.
This year's hike marks the eighth consecutive single-digit increase. As in last years, no breakdown of the spending was given, only the overall amount and the rate of increase.
The spending increase outpaces targeted economic growth of around 5 Percent, which is slightly below previous year's target as the world's second-largest economy faces domestic headwinds.
In his work report to the annual session of parliament, prime minister Li said military operations, capacity building and combat preparedness should be 'well-coordinated in fulfilling major tasks'.
'Our armed forces, with a focus on the goals for the centenary of the People's Liberation Army in 2027, should work to carry out military operations, boost combat preparedness and enhance military capabilities,' Li Keqiang said in the state-of-the-nation address to the largely rubber-stamp legislature.
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