China boosts defence spending
China revealed a defence budget of RMB886.9 billion ($141.5 billion), a rise of 10.1%, during its annual National People’s Congress session on 5 March 2015. The new budget is the 26th straight year of double- or near double-digit growth.
The percentage rise is the lowest in the past five years, reflecting China’s slowing GDP growth that is targeted at 7% this year. Nevertheless, the defence budget as a proportion of GDP continues to gradually increase, from 1.31% in 2014 to 1.34% this year.
Military expenditure has outstripped economic growth each year since 2011.This year’s figure demonstrates ongoing robust growth, equating
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![UK Chancellor commits £2 billion to make the country a “defence industrial superpower”]()
UK Chancellor commits £2 billion to make the country a “defence industrial superpower”
Rachel Reeves announced port upgrades, protected budgets for innovation and investment in novel technologies.
-
![Launch of Gilat Defense targets DoD market]()
Launch of Gilat Defense targets DoD market
The communications company Gilat launched its new Gilat Defense division at the Satellite 2025 expo, with future solutions aimed at US military customers.
-
![Collins MAPS Gen II to equip US DoD watercraft]()
Collins MAPS Gen II to equip US DoD watercraft
US services have already conducted multiple tests with military maritime systems fitted with the system.
-
![OCCAR expects substantial boost in programme numbers “in the coming months”]()
OCCAR expects substantial boost in programme numbers “in the coming months”
Europe’s Organisation for Joint Armament Cooperation (OCCAR) “has to establish itself…as a centre of excellence for cooperative Defence Equipment Programmes” in the face of growing threats and the need for rearmament, according to the organisation’s chairman.
-
![MBDA CEO emphasises “moment of truth” for Europe as company sees €37 billion backlog]()
MBDA CEO emphasises “moment of truth” for Europe as company sees €37 billion backlog
MBDA CEO Éric Béranger stressed the company’s role supporting European countries with complex weapon systems and focused on boosting production against the backdrop of “shifting” geopolitical alliances.
