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
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