China's defense budget likely to increase by 10% in 2015

  • The Chinese military budget is expected to increase by around 10% this year.

    This “rough” figure was given by a spokesperson for the National People’s Congress (NPC), the annual session of the country’s parliament.

    In 2014, China hiked its defense budget spending by 12.2% to $130 billion. It is currently the second-highest defense spender in the world after the US, but there is considerable gap between the two.

    The NPC spokesperson said that the modernization of China’s defense forces required a certain “guaranteed amount of funding”.

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