China hikes defence budget to $152bn
China has boosted its military spending by seven per cent to $152 billion, a budget that is three times higher than that of India.
This is the first time that China's military spending crossed a trillion yuan.
"The country's military spending this year will stand at 1.04 trillion yuan (about US 152 billion) with 1.02 trillion yuan from the central budget," the Xinhua report said.
Chinese officials defended the seven per cent hike by saying it is much lower than the 10 per cent increase proposed by President Donald Trump to America's defence budget to take it to about $654 billion, the highest in the world.
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