Economics
China's Defense Spending to Expand at Slowest Pace in Six Years
- Military budget increases 7.6%, compared with 10.1% in 2015
- PLA delegation mum as National People's Congress gets underway
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China’s military budget will grow at the slowest rate in six years as President Xi Jinping overhauls the military and a slowing economy constrains spending.
Central government defense spending was projected to increase 7.6 percent to 954.4 billion yuan ($147 billion) compared with a 10.1 percent rise last year, the Ministry of Finance said Saturday in its budget report to the National People’s Congress. That’s the smallest jump since the military budget increased 7.3 percent in 2010.