China raises defence budget for 8th consecutive year with 7.2 per cent increase to USD 225 billion
Beijing: China on Sunday hiked its defence budget by 7.2 per cent, marginally higher than last year, to 1.55 trillion yuan (about USD 225 billion), marking the eighth consecutive year of increase in its military spending.
China, last year, pegged its defence budget at 1.45 trillion yuan, a 7.1 per cent increase. This year the defence spending is increased to 1.55 trillion yuan.
However, in view of the appreciation of the dollar against the yuan, this year’s defence spending of China totalled, according to the state-run China Daily, about USD 225 billion.