China Defence Budget To Rise 10.7% In 2013

Photo Credit: APChina’s defence budget is set to rise 10.7 percent this year, state media said on Tuesday as the national parliament’s annual gathering opens, a slight drop from a 11.2 percent increase in 2012.

“China plans to raise its defence budget by 10.7 percent to 720.2 billion yuan” ($115.7 billion) in 2013, the Xinhua news agency said, citing a budget report that will be reviewed by the National People’s Congress (NPC), the national legislature.

China’s military budgets have risen steadily in recent years along with the country’s booming economic growth, and experts say the actual totals are usually substantially higher than the publicly announced figures.

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