China will increase military spending by 12.2 percent this year to $132 billion, the government said on Wednesday,March 5, partly to beef up coastal and air defences and to develop more high-tech weapons. The government announced its spending plan for the 2.3 million People’s Liberation Army (PLA) at the opening of parliament’s annual meeting. The increase builds on a nearly unbroken run of double-digit hikes in the defence budget for the past two decades.
“We will comprehensively enhance the revolutionary nature of the Chinese armed forces, further modernise them and upgrade their performance, and continue to raise their deterrence and combat capabilities in the information age,” Premier Li Keqiang told the largely rubber-stamp legislature.
Li added that China would “strengthen research on national defence and the development of new- and high-technology weapons and equipment” and “enhance border, coastal and air defences”. China’s military spending is now second only to that of the United States, allowing Beijing to create a modern force that is projecting power deep into the disputed waters of the East and South China Seas. Much military spending takes place outside the budget, however, and many experts estimate real outlays are closer to $200 billion. The U.S. Defense Department’s base budget for fiscal 2014 is $526.8 billion.
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