CNN: China boosts military spending 8% amidst ambitious modernization drive
China plans to boost its military spending by 8.1% in 2018 as it looks to further advance an ambitious modernization drive for its armed forces.
A budget document made available to the media before the opening of China's 13th National People's Congress (NPC) in Beijing on Monday, reveals China will spend the equivalent of US$175 billion across all branches of the People's Liberation Army.
The 8.1% increase is higher than last year's announcement, when it upped military spending by 7% over the previous year. In straight dollar terms, US military spending far outweighs China's. The Pentagon has requested a budget of $686 billion in 2019, up $80 billion from 2017.
China's budget announcement comes as President Xi Jinping, the commander in chief of the country's armed forces, focuses on increasing both the sophistication and reach of the country's military.
Read more ....
Update: China boosts defence spending amid military modernisation -- Reuters
WNU Editor: An 8.1% increase in defense spending is a huge increase .... not a "moderate" increase. China also does not provide a breakdown for how it allocates its defence budget .... which means that other departments may be spending money on defense even though they are not part of the defense budget.
