China hikes defence budget to $177.61 billion, turns second highest spender

Country will spend three times more on its military than Indian, according to draft budget report.

China has increased its defence budget by 7.5 per cent for this year, hiking it to USD 177.61 billion from last year's USD 175 billion.

It is over three times India's defence budget. The 2019 defence budget will be 1.19 trillion yuan (about USD 177.61 billion), according to a draft budget report to be submitted at the opening of the annual session of China's parliament, the National People's Congress (NPC), on Tuesday.

The increase this year is lower than that of last year's 8.1 per cent. China, which increased its defence budget in double digits till 2015, lowered it to