DTN News - CHINA DEFENSE NEWS: China Announces Surge In Military Spending To Almost $132 Billion

DTN News - CHINA DEFENSE NEWS: China Announces Surge In Military Spending To Almost $132 Billion

(NSI News Source Info) TORONTO, Canada - March 5, 2014: China has announced a 12 per cent increase on its military, already the largest in the world, sparking concerns among its Asian neighbours and the US.

Beijing has for years been raising spending on the People's Liberation Army (PLA) in double-digit steps, reflecting its military ambitions as it asserts its new-found economic might and its claims in a series of territorial disputes with Japan and others.

"The appropriation for national defence is 808.23 billion yuan (£79 billion), up 12.2 percent," said a budget report prepared for the annual session of the National People's Congress (NPC), China's Communist-controlled parliament, which began on Wednesday.

"We will resolutely safeguard China's sovereignty, security and development interests," Premier Li Keqiang said at the opening session.

"We will safeguard the victory of World War II and the post-war international order, and will not allow anyone to reverse the course of history," he said - a phrase China often uses in relation to rival Japan.

*China continues years of double-digit rises in military spending to alarm of Asian nations and US

*Source: DTN News - - This article compiled by K. V. Seth from reliable sources Telegraph UK

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