BEIJING — China projected defense spending growth of 6.8% this year, the largest increase in two years, amid tensions with the U.S. and key neighbors.
Defense spending is expected to increase to 1.35 trillion yuan ($208 billion) in the coming year, the Ministry of Finance said Friday. The figure, released at the start of the annual National People’s Congress meeting in Beijing, compares with an increase of 6.6% last year.
“We will boost military training and preparedness across the board, make overall plans for responding to security risks in all areas and for all situations, and enhance the military’s strategic capacity to protect the sovereignty, security and development interests of our country,” Chinese Premier Li Keqiang said in an annual report to the national legislature.
China, the only major economy in the world to expand last year, announced an economic growth target of above 6% for the year as the NPC opened, well below what economists had forecast.
