Yesterday, Beijing announced that it will jack up defence spending by 10.7 per cent this year to 720 billion yuan (HK$897 billion).
- Tue
- May 21, 2013
- Updated: 9:30am
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What China includes and does not include in calculating its military budget is the reason the outside world fails to understand its real defence expenditure, military experts said.
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No line item in the mainland's annual budget gets more attention than national defence.
China's top army officials have attributed a 12 per cent surge in defence spending this year to fast-growing military equipment costs and inflation.
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