China to increases military spending by 7 per cent

China expands military spending
China expands military spending

China’s 2017 military spending will extend by around 7 percent, a representative for the annual session of the nation’s top council said Saturday.

Fu Ying, representative for the 12th National People’s Congress (NPC) annual session, said the expansion is in accordance with China’s financial advancement and defense needs.

The new increment could be the nation’s slowest defense budget rise in no less than 10 years, denoting the second time for the defense budget increment to slip into the single digits since 2010. In 2009, the figure was around 15 percent.

Addressing the press conference, Fu Ying said, “China’s military capacity building will be continued. This is the requirement for safeguarding our national sovereignty and security.”

Premier Li Keqiang will present the administration’s 2017 GDP focus on Sunday. The correct figure during the current year’s defence budget plan is likely to come out on Sunday.

As indicated by the last year’s Budget report, China’s defense spending in 2016 was set to grow 7.6 percent to 954 billion yuan (around 138 billion U.S. dollars).

A month ago, U.S. President Donald Trump promised to additionally reinforce his nation’s military development.

In his first deliver to Congress in the wake of taking office, Trump proposed an enormous 54-billion-U.S. dollar surge in the nation’s military spending, up 10 percent from last year.

SOURCES-

  1. XINHUA- http://news.xinhuanet.com/english/2017-03/04/c_136101947.htm
  2.  THE NEW YORK TIMES- https://www.nytimes.com/2017/03/04/world/asia/china-to-raise-military-spending-but-less-than-in-recent-years.html?_r=0

IMAGE SOURCE- Andy Wong/Associated Press

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