China to Raise the Defense Budget by 10.7 percent
Published By : 05 Mar 2015 | Published By : QYRESEARCH
Beijing has announced that China’s budget will hike by almost 10 percent in 2015 in accordance with the government’s budget that was published on Thursday. China has been running a two-digit increase in the defense budget since two decades reflecting its aspirations to prioritize the defense sector.
Senior Official and the spokeswoman of the National People’s Congress, Fu Ying, stated that the increase in the budget was a necessary step to patch up with the continued exposure to foreign opponents. Observing the territorial disputes going with Tokyo and other parts, China has been raising the percentage of spending on the People’s Liberation Army (PLA) in order to maintain the flexibility of the military forces. A year back, the budget had increased by 12.2% which was a concern for the region and in the states of US.
According to some analysts, it is anticipated that the actual spending for defense can be substantially higher than what is being publicized. Pentagon had estimated the figures in between US$135 billion and US$215 billion in the year 2012. China’s defense budget had showed a steady increase in the percentage as - 12.7 in 2011, 11.2 in 2012 and 10.7 in 2013.
Fu Ying also mentioned that the country is aiming to achieve modernization and defense being a part of it, the increase in the defense budget is an important step. She also stated that taking a lesson from history, China will never fall behind and get bullied. The statement was given in relevance to what China endured in the 19th century when the country was partially occupied by European powers.
The constant rise in the defense budget is explained by China’s ruling Communist party as it wants the military to be one of the largest. And it aims at ensuring peace and not getting involved in disputes with neighboring countries.