China to raise 2016 Defence Budget by 7-8 percent

Beijing, March 4: China is set to raise its defence budget by around 7 to 8 percent this year, an official said on Friday.

At a press conference a day ahead of the National People’s Congress annual session, spokesperson Fu Ying said the increase is in line with China’s national defence need and fiscal revenue, Xinhua news agency reported.

The exact figure will be released in a budget report on Saturday.

China’s defence budget rose by 10.1 percent last year. (IANS)