China announces rise of 12.2 per cent in annual military budget
5 March 2014, 06:58
Premier Li Keqiang announced a rise of 12.2 per cent in China's annual military budget, saying it was needed to fund an ongoing modernization drive.
"This year, with the [Communist] Party's goal of strengthening the armed forces under the new conditions in mind, we will ... continue to raise their deterrence and combat capabilities in the information age," Li told delegates at the annual meeting of the state parliament.
The draft budget presented to the parliament allocated 808.2 billion yuan (132 billion dollars) for defence spending this year, following previous double-digit rises that prompted international concern over China's growing military power.
Voice of Russia, dpa
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