No. 2 spender China to boost defence spending in 2018
BEIJING — China’s defence budget will rise 8.1 per cent to 1.1 trillion yuan ($173 billion) this year as the country prepares to launch its second aircraft carrier, integrate stealth fighters into its air force and field an array of advanced missiles able to attack air and sea targets at vast distances.
The figure released in a report Monday to the ceremonial National People’s Congress is an increase in the growth rate from last year, when finance ministry officials said the budget was rising 7 per cent to 1 trillion yuan ($151 billion).
Years of double-digit percentage growth have given China the world’s second-largest defence budget after the United States, which is in a class of its own with a proposed budget of $716 billion for next year.
“We will stick to the Chinese path in strengthening our armed forces, advance all aspects of military training and war preparedness,” Premier Li Keqiang said as he read a report to nearly 3,000 delegates at the Great Hall of the People.


