China to Spend $91.5 Billion on Improving Defense in 2011
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China plans to increase defense spending 12.7 percent this year as the improved military capabilities of the country with the world’s biggest army have heightened concern in the U.S. and the region over its goals.
China will spend 601.1 billion yuan ($91.5 billion) on defense this year, Li Zhaoxing, spokesman for China’s National People’s Congress, told reporters today in Beijing. The increase compares with a previously reported 7.5 percent rise in 2010, the slowest pace of expansion in more than a decade.