Sunday, March 4, 2012

China to spend 11% more on defence

China will boost military spending by 11.2 percent this year, the government said on Sunday, unveiling Beijing's first defense budget since President Barack Obama launched a policy "pivot" to reinforce U.S. influence across the Asia-Pacific.

The increase announced by parliament spokesman Li Zhaoxing will bring official outlays on the People's Liberation Army to 670.3 billion yuan ($110 billion) for 2012, after a 12.7 percent increase last year and a near-unbroken string of double-digit rises across two decades.

Read details: Reuters


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