China's Defence Spending To Exceed $100 Billion
Beijing, March 4, :China has announced it will increase defence pending by 11.2 per cent in 2012, taking its military expenditure to $106.39 billion and marking a return to double-digit growth amid plans to modernise its armed forces during a year that will see a crucial leadership transition, Reports The Hindu. The planned defence budget was announced in Beijing on Sunday as 670.274 billion Yuan, an increase of 67.604 billion Yuan over the actual expenditure in 2011 and an 11.2 per cent year-on-year rise. He pointed out that China's defence spending as a share of GDP was only 1.28 per cent, lower than many countries including the United States and the United Kingdom "where it exceeds 2 per cent". China's neighbours have, however, expressed concerns over the rise in military spending, which grew by 12.7 per cent last year to $91 billion.
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