China Boosts Defence Spending by 7.2% to USD 249 Billion

Beijing, Mar 5 (PTI) China on Wednesday announced a 7.2 per cent increase in its national defence budget to USD 249 billion this year.

The planned defence expenditure for the country is 1.784665 trillion yuan (about USD 249 billion) this year, according to a draft budget report submitted to China's Parliament by Premier Li Qiang.

Last year, China increased its defence budget by 7.2 per cent to about USD 232 billion (1.67 trillion yuan) -- over three times that of India -- as it continues with the massive modernisation of all its armed forces.

China's defence budget figures are viewed with scepticism in the light of massive military modernisation, including building aircraft carriers, rapid construction of advanced naval ships and modern stealth aircraft being carried out at a feverish pitch by the Chinese military.