March 4, 2010 1:13 PM

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China to increase Defence budget by 7.5 per cent in 2010

China says it plans to increase its Defence budget by 7.5 per cent in 2010, ending a long run of double-digit growth. It is only about half of last year's planned growth of 14.9 per cent. A Parliament spokesman today said the planned defence budget is 532.115 billion Yuan (about 78 billion U.S. dollars), a rise of about 37 billion Yuan from last year's defence expenditure. Defence spending would account for 6.4 per cent of the country's total fiscal expenditure in 2010.

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