BEIJING, March 5, 2016 (People’s Daily) – China on Saturday plans to raise the 2016 defense budget by 7.6 percent, the lowest increase in six years.

According to a budget report to the national legislature annual session, the Chinese government plans to raise the 2016 defense budget to 954 billion yuan (about 146 billion U.S. dollars). China's military expenditure had seen a five-year run of double-digit increases between 2011 and 2015. The single-digit rise this year is regarded as a prudent and moderate move.

The cut of 300,000 service people announced by Chinese President Xi Jinping last year might also have helped drive down the defense budget growth figure.