China to raise military spending by 12.7%, unsettling neighbors (VIDEO)
China will take military spending for 2011 to $91.5 billion, a move likely to unsettle neighbors.
A couple walk beneath a Chinese-made Hongqi-2 missile on display at the Military Museum in Beijing on March 4, 2011. China has announced a double-digit increase in its secretive military budget but insisted the annual outlay of more than $90 billion posed no external threat despite concern worldwide.
China has raised its defense budget by 12.7 percent — up from a single-digit rise last year — taking military spending for 2011 to $91.5 billion.
The move is likely to unsettle neighbors, particularly Taiwan, Japan and India, concerned by China's rapid military modernization and ever more assertive attitude. The hike comes soon after the first test flight of a Chinese stealth fighter jet and Beijing also plans to launch an aircraft carrier.
The draft defense budget is subject to approval by the National People’s Congress, which opens on Saturday with Premier Wen Jiabao delivering his annual report.
Parliamentary spokesman Li Zhaoxing sought to such allay any regional fears, saying China was devoted to peaceful development and that Beijing's military policy was defensive by nature, VOA reported.
He said China has a long coastline and various borders to secure — but given its geographical size and vast population of 1.34 billion, the military spending is low compared with other modern nations.
Li added that the increase would not pose a threat to any other country.
In Beijing's Great Hall of the People, Wen will address 3,000 delegates, according to the BBC, in a speech of similar importance to the State of the Union in the U.S.
This year's National People's Congress is set to be dominated by the country's latest five-year economic plan, which aims to create more sustainable growth.
China's leaders say fighting rising inflation is also a priority.
China's five-year plan for 2011 to 2015 will be approved during the 10-day meeting.