China’s military budget will be increased by between seven to eight per cent this year compared with last year, China’s National People’s Congress spokeswoman Fu Ying announced on Friday.
She said the planning of the military budget was based mainly on China’s defence needs and the economic development of China.
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Last year, the People’s Liberation Army’s budget increased 10.1 per cent to 886.9 billion yuan (HK$1 trillion). The US defence budget was US$597 billion that year.