http://www.businessweek.com/news/2012-03-04/chinese-military-spending-will-rise-11-percent-in-2012
China Lifts Military Spending in Face of Disputes
By Bloomberg News on March 04, 2012
China plans to increase defense spending 11.2 percent this year as the countryâs expanding global commitments and lingering territorial disputes drive demand for more warships, missiles and fighter planes.
Military spending is set to rise this year to about 670 billion yuan ($106.4 billion), Li Zhaoxing, spokesman for Chinaâs National Peopleâs Congress, said yesterday ahead of a speech today by Premier Wen Jiabao to open the annual 10-day session of the countryâs legislature.
Chinaâs defense spending, the second highest in the world after the U.S., has risen in tandem with the expansion of its economy.
U.S. analysts say actual Chinese defense spending is much higher than the amount announced by Li yesterday.
Phillip Saunders, director of the Center for the Study of Chinese Military Affairs at National Defense University in Washington, estimates Chinaâs true defense spending is 50 percent higher than the official budget because items such as research and development as well as foreign weapons procurement are not included.
<img src="http://www.thehindu.com/multimedia/dynamic/00942/TH04-MILITARY_DRILL_942282f.jpg">
A Chinese warship launches a missile during a live-ammunition military drill held by the South China Sea Fleet of the People's Liberation Army (PLA) Navy
China Lifts Military Spending in Face of Disputes
By Bloomberg News on March 04, 2012
China plans to increase defense spending 11.2 percent this year as the countryâs expanding global commitments and lingering territorial disputes drive demand for more warships, missiles and fighter planes.
Military spending is set to rise this year to about 670 billion yuan ($106.4 billion), Li Zhaoxing, spokesman for Chinaâs National Peopleâs Congress, said yesterday ahead of a speech today by Premier Wen Jiabao to open the annual 10-day session of the countryâs legislature.
Chinaâs defense spending, the second highest in the world after the U.S., has risen in tandem with the expansion of its economy.
U.S. analysts say actual Chinese defense spending is much higher than the amount announced by Li yesterday.
Phillip Saunders, director of the Center for the Study of Chinese Military Affairs at National Defense University in Washington, estimates Chinaâs true defense spending is 50 percent higher than the official budget because items such as research and development as well as foreign weapons procurement are not included.
<img src="http://www.thehindu.com/multimedia/dynamic/00942/TH04-MILITARY_DRILL_942282f.jpg">
A Chinese warship launches a missile during a live-ammunition military drill held by the South China Sea Fleet of the People's Liberation Army (PLA) Navy