20 August 2019

China 2014 defense budget grows 12.2%, paper says

China will allocate 808.2 billion yuan (US$132.22 billion) to military spending this year, up 12.2 percent year on year, the United Daily News reported Thursday, citing a mainland Ministry of Finance budget plan. It will be the fourth consecutive year of double-digit spending growth, after 10.7 percent growth in 2013 and 11.2 percent expansion in 2012. In addition, the budget for public security will increase 6.1 percent to 205.06 billion yuan this year, the report said.

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