China to raise 2016 defense budget by 7-8%
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E-mail China.org.cn, March 4, 2016
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Fu Ying, spokesperson for the fourth session of China's 12th National People's Congress (NPC), answers questions at a press conference on the session at the Great Hall of the People in Beijing, capital of China, March 4, 2016. The fourth session of the 12th NPC is scheduled to open in Beijing on March 5. [Xinhua] |
![Fu Ying, spokesperson for the fourth session of China's 12th National People's Congress (NPC), answers questions at a press conference on the session at the Great Hall of the People in Beijing, capital of China, March 4, 2016. The fourth session of the 12th NPC is scheduled to open in Beijing on March 5. [Xinhua]](http://images.china.cn/attachement/jpg/site1007/20160304/001aa0ba3c6a184353fe1e.jpg "Fu Ying, spokesperson for the fourth session of China's 12th National People's Congress (NPC), answers questions at a press conference on the session at the Great Hall of the People in Beijing, capital of China, March 4, 2016. The fourth session of the 12th NPC is scheduled to open in Beijing on March 5. [Xinhua]")
The military spending is budgeted to grow by around 7 to 8 percent in 2016, said Fu Ying, spokesperson for the National People's Congress annual session.
Fu said at a press conference on Friday that the exact figure will be released in a budget report to the session.
Fu said a growth rate within the range might be the lowest for years since 2010, when the figure stood at 7.5 percent. China's defense budget rose by 10.1 percent last year.
She said the raise in 2016 is in line with China's national defense need and fiscal revenue.
China's economy expanded 6.9 percent year on year in 2015, the slowest in one fourth a century, weighed down by a property market downturn, falling trade and weak factory activity.
Premier Li Keqiang will unveil the government's GDP target on Saturday. The figure is expected to be in a range between 6.5 and 7 percent.
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