Military budget increase tops NPC preview session
Seven per cent increase is slowest since 2010, and the second year in a row beneath 10 per cent
China will increase its defence budget by about 7 per cent this year, the smallest boost since 2010, a move which analysts said reflected the nation’s continuing economic slowdown.
The announcement of the figure on Saturday by Fu Ying, spokeswoman of the National People’s Congress, came amid rising calls by military officers for defence spending to be boosted by at least 10 per cent as China seeks to improve the fighting capability of the People’s Liberation Army.
Defence Budget
Fu said this year’s defence spending would remain at about 1.3 per cent of gross domestic product.
The military needed to protect China’s territorial sovereignty and maintain regional security. China should prevent foreign forces’ intervention and involvement in its territorial disputes with neighbouring states.
Sino-US Relations
Beijing and Washington should increase exchanges because the US public nor their new leaders do not understand China well. Whenever they mention China they use out-of-date information or not entirely accurate facts.
Government Levies
The national legislature will launch a study this year on non-tax government fees, amid growing complaints from businesses about heavy government charges.
Securities Law
The securities law amendment draft, which aims to protect small private investors, will be resubmitted to the National People’s Congress in April.
Property Tax
A property tax bill is not on the NPC’s legislation schedule this year.
Civil Code
A draft of the General Provisions of Civil Law, a major step towards the drafting of a Civil Code, is expected to be tabled at the NPC plenum, which starts on Sunday. Fu said the general provisions’ predecessor was adopted three decades ago and needed to catch up with contemporary society.