China announces an increase in its military spending while warning of 'escalating' threats from abroad
The increase in the world's second-largest defence budget came as China's leaders said it would aim for economic growth of around five percent for the coming year.
China has announced an increase in its military spending while warning of "escalating" threats from abroad, at a meeting of its parliament that is set to hand Xi Jinping a third term as president. Speaking at the full meeting of the 2,977 members of the National People's Congress , outgoing Premier Li Keqiang on Sunday told delegates that "external attempts to suppress and contain China are escalating".
The country's planned budgets for the year put defence spending at 1.55 trillion yuan , a 7.2% increase over last year. China's defence spending still pales in comparison with the United States, which has allotted over $800 billion for its military this year.
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