China to increase defence spending by 8% in 2016
BEIJING: China claimed to increase its defence budget by 7 to 8 percent in 2016 due to its move in South China Sea.
A parliament spokesman Fu Ying said “China’s military budget will continue to grow this year but the margin will be lower than last year’s and the previous year’s.”
The budget is estimated to raise around $150 billion but the exact increase will be announced on Saturday at the opening of the NPC.
China raised its defence budget last year by 10.1% ($135.39 bn) which is equal to one quarter of the US defence budget.
China has territorial claims in South China Sea which raised its tensions with neighbouring countries.
China is modernizing its navy and recently it included a mobile dock in the navy which is capable of repairing naval arsenal in the combat zone.
China has deployed surface to air missile defence system and fighter jets in the South China Sea.
US and regional states called it a militarization of South China Sea but China claimed that it has right under international law to take measures for its sovereignty and to protect its territories.
China is building artificial islands in the disputed Sea through which $5 trillion trade and a third of world’s oil passes every year.
China claims the most of the sea but some regional countries also have rival claims.