China's defense budget to increase 7 to 8 percent in 2016

Source:Global Times Published: 2016-3-4 11:19:24

China will raise its defense budget by seven to eight percent  in 2016, compared with last year's 10.1 percent, according to Fu Ying, spokeswoman for the Fourth Session of the 12th National People's Congress (NPC) at a press conference at the Great Hall of the People in Beijing, capital of China, March 4, 2016.

The exact figure will be published on March 5 in a budget report to the session.

A growth rate within the range that Fu mentioned might be the lowest for years since 2010, when the figure stood at 7.5 percent.

The spokesperson said the raise in 2016 is in line with China's national defense need and fiscal revenue.

China's economy expanded 6.9 percent year on year in 2015, the slowest in one fourth a century, weighed down by a property market downturn, falling trade and weak factory activity.

Premier Li Keqiang will unveil the government's GDP target on Saturday.

The figure is expected to be in a range between 6.5 and 7 percent, compared with the "approximately 7 percent" target announced by Li last year.

Posted in: Politics, Military

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