BEIJING, March 4. /TASS/. China is planning to increase the country’s defense spending by around 10% this year, a spokesperson for China’s top legislature said on Wednesday.
"Such a big country as China needs significant military spending so that people feel secure," Fu Ying said on the eve of the 3rd session of the 12th National People's Congress (NPC).
The exact figure will be published after the parliamentary session opens on Thursday, she said. The session will last through March 15.
Last year, China’s defense spending was planned at 802.2 billion yuan (around $130 billion), a 12.2% increase compared with 2013. In comparison, the US military budget in 2014 was $575 billion, while the United Kingdom and Japan spent $57 billion and $55 billion on the defense, respectively.
The US has announced plans to reject the deployment of the fourth stage of the missile defense system in Europe and to refocus towards protection against potential North Korea missile attacks. Infographics by TASS