Beijing : China’s 2017 defence spending will grow 7%, a Finance Ministry official said on Monday. China’s military expenditure will be 1.04 trillion yuan ($152 billion), Xinhua news agency quoted the official as saying.
The figures can be found in a draft national budget for 2017, which has been submitted to the current annual session of the National People’s Congress (NPC). China’s budget law and the law on national defence require that defence budget every year be included in the draft report of government budget to be reviewed and approved by national lawmakers, the official explained.
He said the military spending was in line with China’s economic development and defence needs. “The majority of the defence budget will be spent on deepening national defence and military reforms, bolstering military and civilian integration, and improving the living, training and working conditions for service personnel at grassroots levels.”
China’s defence budget growth this year is the slowest in at least a decade. The increase last year was 7.6%, breaking a multi-year run of double-digit growth. Fu Ying, spokeswoman for the NPC annual session, on Saturday said China’s defence budget would expand by “about 7%”. She said the defence spending accounted for only about 1.3% of the country’s GDP, in contrast with NATO members’ pledge to dedicate at least 2% to defence.
Fu also pointed to the recent US proposition to hike defence spending by 10%. US President Donald Trump last month asked for $54 billion increase in the country’s military spending in his first address to Congress after taking office.
In his government work report delivered on Sunday, Chinese Premier Li Keqiang said the country will strengthen its maritime and air defence as well as border control amid efforts to safeguard its sovereignty and security.. IANS
