China to increase defence budget by 7 to 8 pc

Fu Ying, spokeswoman for China's parliament, addresses reporters during a news conference at the Great Hall of the People ahead of Saturday's opening ceremony of the National People's Congress (NPC), in Beijing, China on Friday.

The proposed increase in China’s military budget comes in the backdrop of articles in the state media calling for increase to match the U.S. defence budget of USD 599 billion.

China will hike its defence budget by seven to eight per cent this year from about USD 145 billion in 2015 amidst its worst GDP growth in 26 years and an escalating military showdown with the U.S. in the disputed South China Sea . Read More