China Latest News Live Updates: China will boost defence spending 7.2% this year, slightly outpacing last year's increase and faster than the government's modest economic growth forecast, as Premier Li Keqiang called for the armed forces to boost combat preparedness.
The 1.55 trillion yuan ($224 billion) in military spending in the national budget released on Sunday is closely watched by China's neighbours and in Washington as a barometer of how aggressively the country will beef up its military.
This year's hike marks the eighth consecutive single-digit increase. As in previous years, no breakdown of the spending was given, only the overall amount and the rate of increase.
The spending increase outpaces targeted economic growth of around 5%, which is slightly below last year's target as the world's second-largest economy faces domestic headwinds.
Beijing is nervous about challenges on fronts ranging from Chinese-claimed Taiwan to U.S. naval and air missions in the disputed South China Sea near Chinese-occupied islands.
China staged war games near Taiwan last August to express anger at the visit to Taipei of then-U.S. House Speaker Nancy Pelosi.
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