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BEIJING, March 5 (Itar-Tass) - - In 2013, China will spend on national defense 720.168 billion yuans (114.3 billion dollars), which is 10.7 percent more than in 2012, says a report of the Chinese Finance Ministry, presented at the 1st session of the All-China Assembly of People’s Representatives of the 12th convocation which opened here on Tuesday.
“These funds will be earmarked for improving conditions of work and life of army officers in the interests of ensuring defense security,” the report says.
As for 2012, according to the figures given in the report, China spent on strengthening national defense 650.603 billion yuans (103.2 billion dollars). The given figure will increase by 11.6 percent in comparison with 2011.