China boosts military budget to uphold ‘sovereignty, security, territorial integrity’

March 5, 2013 by IPB

China will increase military spending by 10.7 per cent this year to 720.2 billion yuan (US$115.7 billion), the government announced on Tuesday, building on a nearly unbroken succession of double-digit rises in the defence budget across two decades.

The government also announced that the domestic security budget would rise 8.7 per cent to 769.1 billion yuan, the third year in a row it will outstrip defence spending.  Read more…

Source: South China Morning Post