China defence budget up for 8th consecutive year, 7.2% increase to $225 bn

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.

Last year, in dollar terms China's defence spending amounted to USD 230 billion. This is for the eighth consecutive year that China has announced a single-digit percentage point increase in its military budget.

In his work report presented to the opening session of the National People's Congress (NPC) - the country's rubber-stamp parliament - outgoing Premier Li Keqiang spoke highly of the armed forces' achievements at the borders without