China's Defense Budget to Rise by 17.6 Percent: Minister

Home>>Business

Last updated at: (Beijing Time) Wednesday, March 06, 2002

China's Defense Budget to Rise by 17.6 Percent: Minister

China will increase its defense expenditures for national defense by 25.2 billion yuan this year, an increase of 17.6 percent from last year, Finance Minister Xiang Huaicheng said Wednesday.

DISCUSSION

CHINESE

SEND TO FRIEND

China will increase its defense expenditures for national defense by 25.2 billion yuan this year, an increase of 17.6 percent from last year, Finance Minister Xiang Huaicheng said Wednesday.

Xiang made the remark while delivering the Report on the Implementation of the Central and Local Budgets for 2001 and on the Draft Central and Local Budgets for 2002, at the on-going annual session of the National People's Congress.

He said China will appropriately increase expenditures for national defense to utilize modern technology, especially high technology to raise the army's defense and combat capabilities, safeguard the national sovereignty and territorial integrity and adapt to changes in the international situation.

The government will also appropriately raise the salaries of officers, noncommissioned officers and office staff on the regular payroll, the subsidies for compulsory servicemen and the pensions for retired servicemen, he said.

Questions?Comments? Click here

Premier on Defense, Stability