China To Raise Defense Budget By 10 Percent
China will raise its defense budget by about 10 percent this year, compared to last year's 12.2 percent, Xinhua reported Wednesday.
Fu Ying a spokeswoman for the annual session of the country's top legislature said in press conference the exact figure will be published in a budget report Thursday.
China's defense budget rose by 12.2 percent last year, riding on a multi-year run of double-digit increases.
A growth rate of about 10 percent could be the lowest in five years.
China as a big country needs an army that can safeguard its national security and people. "To tell the truth, there is still a gap between China's armed forces [and foreign counterparts] in terms of overall military equipment. We still need more time," said Fu.
The capital support is needed for the modernization of China's national defense and its army, Fu added.
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