Soldiers from Chinese PLA Special Operations Forces marching in formation during training session on the outskirts of Beijing Photo: REUTERSChina's Defense Budget To Grow 12.7 Pct In 2011: Spokesman -- Xinhuanet
BEIJING, March 4 (Xinhua) -- China said Friday it plans to raise its defense budget by 12.7 percent to 601 billion yuan (91.5 billion U.S. dollars) in 2011, compared with an increase of 7.5 percent last year.
The year's draft defense budget was 67.6 billion yuan more than 2010, and accounted for about 6 percent of the country's total budget, said Li Zhaoxing, spokesman for the annual session of China's national legislature.
"The government has always tried to limit military spending and it has set the defense spending at a reasonable level to ensure the balance between national defense and economic development," said Li.
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More News On China's Defense BudgetChina defense budget to stir regional disquiet -- Yahoo News/Reuters
China to boost defense spending by 12.7 percent -- Yahoo News/AP
Double-digit rise for China's military spending -- Yahoo News/AFP
China Strengthens Military Budget -- Wall Street Journal
China says it will boost its defence budget in 2011 -- BBC
China to Boost Military Spending -- Voice of America
China Resumes Rapid Increase in Military Spending -- New York Times
12 Percent Hike In China's Defense Budget -- RTT News
China announced a stunning hike in military spending; Japan worried -- Times of India
China to Boost Defense Spending by 12.7% as Military Extends Global Reach -- Bloomberg
China to boost military spending -- Al Jazeera
China to boost military spending -- Financial Times
China defense budget up 12.7 percent -- UPI
China to boost defence spending by 12.7 per cent -- The Hindu/AP
Chinese defence spending to rise to £56bn -- The Guardian
China may be spending more on its military than it lets on -- The Telegraph
Despite defense budget rise, China to maintain friendly relations with neighbors: spokesman -- Xinhuanet
China to boost military spending: Gunning for the US? -- International Business Times
My Comment: Am I surprised by this huge increase in military spending by China .... no. They now want to have the ability to extend their military globally .... hence the spending. There is also a little bit of truth in this report.
Update: China's neighbors are concerned, contrary to what the Chinese are saying.