China to raise 2016 defence budget by 7-8 percent

Image
IANS Beijing
Last Updated : Mar 04 2016 | 10:07 AM IST

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.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 04 2016 | 9:48 AM IST

Next Story