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China hiked its Defence Budget by 10.7 Percent to 119 Billion US Dollars

Apr 19, 2013 19:10 IST

China hiked its Defence Budget by 10.7 percent on 5 March 2013. As per the hiked defence budget, the spending on the People’s Liberation Army (PLA) will increase to 111 billion US dollars. The domestic security budget will increase by 8.7 percent to 769.1 billion yuan. China’s defense expenditure is about 5.4 percent of total expenditure in 2013. It was 5.3 percent in 2012.

China is making rapid progress in the defence sector. It recently launched a stealth fighter jet in early 2011. Beijing is also building new submarines, surface ships and anti-ship ballistic to upgrade its naval army. China also tested emerging technology aimed at destroying missiles in mid-air.

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Read more Current Affairs on: Defence Budget , China , India

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