In its 19th double-digit increase in 20 years, China is again increasing military spending for the 2009 fiscal year – this time by 14.9 percent. The increase will boost the country’s military finances up to RMB480.6 billion, or a 6.3 percent share of the total budget.
The funds will help maintain “sovereignty and integrity of Chinese territory and would not threaten any country,” according to a report by National People’s Congress spokesman Li Zhaoxing, issued today.
Li went on to say, “The increased part of the budget is mainly used to raise salaries for soldiers as well as spending on military ‘informatisation’, counter-terrorism and internal security.”
In a policy report issued by Beijing in January, government officials asserted that China’s national security was improving, but that the country’s armed forces needed to be upgraded in order to deal with potential conflicts abroad.
China currently boasts a military force of 2.3 million soldiers, the largest in the world.