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China's Two Sessions 2017
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China's second aircraft carrier, temporarily called the 001A, under construction in Dalian, Liaoning province. Photo: ChinaFotoPress

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.

Fu Ying is the National People’s Congress first spokeswoman. Photo: Simon Song

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 Whenever they mention China they use out-of-date information or not entirely accurate facts.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.

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