CHINA HIKES DEFENCE BUDGET BY 10.7%
[Calls it good for peace and regional stability]
China on March 5, 2013 said that it would increase its annual defence budget by 10.7 per cent to 720.168 billion Yuan ($ 115.7 billion) even as officials defended the increased outlay as 'good for regional stability' amid on-
going tensions with several neighbours.
The draft budget also hiked internal public security spending, which is directed towards police forces and maintainance of stability-by 8.7 percent, to 769 1 billion
Yuan ($123.65 billion). Underscoring the seriousness with which the CPC views maintenance
of public stability, internal security spending has exceeded the external defence outlay for the second straight year.
The planned defence budget for the coming year has been seen as an indicator of the new leadership under Mr. Xi plans to manage the country's vast and influential military.
While Chinese analysts point out that this year's $ 115.7 billion budget is still dwarfed by the $ 531, billion U.S. budget, the hike in spending is likely to worry
China's neighbours. For instance, the outlay is now more than three times India's defence spending, which was last week, hiked by five per cent to $ 37 billion, and double
Japan's $ 52 billion budget.
going tensions with several neighbours.
The draft budget also hiked internal public security spending, which is directed towards police forces and maintainance of stability-by 8.7 percent, to 769 1 billion
Yuan ($123.65 billion). Underscoring the seriousness with which the CPC views maintenance
of public stability, internal security spending has exceeded the external defence outlay for the second straight year.
The planned defence budget for the coming year has been seen as an indicator of the new leadership under Mr. Xi plans to manage the country's vast and influential military.
While Chinese analysts point out that this year's $ 115.7 billion budget is still dwarfed by the $ 531, billion U.S. budget, the hike in spending is likely to worry
China's neighbours. For instance, the outlay is now more than three times India's defence spending, which was last week, hiked by five per cent to $ 37 billion, and double
Japan's $ 52 billion budget.
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