DTN News - CHINA DEFENSE NEWS: China Military Budget Tops $100 Billion
(NSI News Source Info) TORONTO, Canada - March 4, 2012: China's official defence spending will rise by 11.2% in 2012, pushing it above $100bn (£65bn) for the first time, the government has announced.
Beijing's defence budget has risen each year for two decades to become the world's second-biggest, behind the US.
It is developing an aircraft carrier, a stealth fighter jet, and missiles that can shoot down satellites.
The US promised to bolster its presence in the region last year, in a move seen as countering China's dominance.
Washington, which spends about $740bn on defence each year, already has bases housing thousands of American troops across the region.
The BBC's Martin Patience in Beijing says Chinese officials remain wary about growing American influence in the region, and believe Washington wants to encircle China.
'Peaceful development'
China's emerging military might has especially worried its near neighbours.
China has long-running territorial disputes with Vietnam, the Philippines and Japan, and has also positioned hundreds of missiles for a potential attack on Taiwan, which it views as part of its territory.
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