09/03/2017 |

China wants to increase its military budget up to 7%

On Saturday 4th, before the start of the annual meeting of the Congress, Fu Ying, spokesperson for the National People’s Congress (NPC), announced that China will spend “about 1.3 percent” of its gross domestic product on its military this year. This percentage represents an increase of around 7 percent over 2016. On Monday 6th the Ministry of Finance came up with the total amount of the PLA’s budget, 1.04 trillion yuan ($152 billion). According to the known spending of Chinese military budget, announced percentage increases have been falling. In fact, this year’s 7% is slightly less than last year’s 7.6%. Last year’s 7.6 % was far below 2015’s 10.1%, and was the first single-digit rise since 2010. Yet even if China’s percentage increase is lower this year than last, countries in the region should not relax. The PLA now appears to be rapidly increasing its call on central government resources. Mr. Fisher, a senior fellow of the International Assessment and Strategy Center, concludes that the increase in China’s real military spending, once everything is taken into account, “could easily top 10 percent.”

Sources:  National interest.org and Xinhuanet