According to the English version of Xinhua News Agency, according to the draft budget to be submitted at the annual session of the National Peoples Congress on Tuesday, China will reduce its defense budget growth rate from 8.1% last year to 7.5% in 2019.
According to the report, the defense budget in 2019 will be 1.19 trillion yuan ($177.61 billion).
This indicates that since 2016, Chinas defense budget growth rate has dropped to single digits for four consecutive years. It has maintained double-digit growth for five consecutive years.
Data show that in 2016, Chinas defense budget expenditure growth rate was 7.6%, 7% in 2017 and 8.1% in 2018.
Zhang Yesui, spokesman for the 13th Annual Conference of the National Peoples Congress, said that the growth of Chinas defense budget was reasonable and appropriate, aiming at meeting the needs of the state in safeguarding national defense security and military reform with Chinese characteristics.
Source: Global Times - Global Network. More exciting, please log on to the World Wide Web http://www.huanqiu.com responsible editor: Yao Wenguang_NN1682