China’s 2019 defense spending will rise 7.5% from 2018, according to a budget report issued at the opening of the country’s annual meeting of parliament, a slower rate than last year but still outpacing the economic growth target.
The defense spending figure, set at 1.19 trillion yuan ($177.49 billion), is closely watched worldwide for clues to China’s strategic intentions as it develops new military capabilities, including stealth fighters, aircraft carriers and anti-satellite missiles.
The 2019 defense spending increase comes as China’s economic growth target for the year was set at 6.0 to 6.5%.
"We will implement the military strategy for the new era, strengthen military training under combat conditions, and firmly protect China’s sovereignty, security and development interests," Chinese PM Li Keqiang said.
"We will further implement the military-civilian integration strategy, and speed up efforts to make innovations in defense-related science and technology," Reuters cited him as saying,
Last year, defense spending was set to increase 8.1%, compared to a 7 percent rise in 2017, and 7.6% in 2016. The five years before that had seen double-digit increases.
