China, in the midst of a massive military modernization, will increase it its annual defense budget to $132 billion, a 12.2 percent increase from the previous year.
Last year, Beijing spent about $117.7 billion on defense, a 10.7 per cent increase from 2012.
China on Wednesday announced a 12.2 per cent increase in its defence budget taking the military spending for this year to $132 billion, far above India's $36 billion.
Defending the progressive increase of China's defence budgets, Fu Ying, spokesperson of NPC told the media on Tuesday that "based on our history and experience, we believe that peace can only be maintained by strength."
China's military spending has long been cited as a cause for concern in western countries. "We have heard such concerns... Indeed, certain countries have been selling the idea of China as a major threat," Fu said.
In January, Beijing announced plans to build world’s first 10,000-ton class marine surveillance ship under a contract worth over $46 million. The contract awarded to China Ship-building Industry Corporation, includes the construction of another 4,000-ton surveillance ship. Tests for the ship's marine clutch have so far been successful.
If the rest of the massive vessel is fully completed, China will overtake the current record holder, Japan – who owns a 7,125 tonnes surveillance ship.
Last month, China successfully tested a hypersonic missile vehicle designed to travel several times the speed of a sound, technology that could allow armies to rapidly strike distant targets anywhere around the globe.
The Chinese vehicle, dubbed the WU-14, is supposed to travel at Mach 10, or 10 times the speed of sound, according to a report in The Washington Free Beacon.
China has confirmed the successful test flight, but stresses that the system is not designed specifically to penetrate US missile defenses, as reported by China Daily.
China is planning to build worlds first 10,000-ton class marine surveillance ship under a contract worth over $46 million. The contract awarded to China Ship-building Industry Corporation, includes the construction of another 4,000-ton surveillance ship
China has tested its first stealth combat drone, a "Sharp Sword" unmanned aircraft, state media said Friday, citing online photos of an aircraft resembling a shrunken US B2 bomber and hailing the advance toward Western-level technology. "The successful flight shows the nation has again narrowed the air-power disparity between itself and Western nations," the China Daily newspaper said, adding the flight made China the "fourth power
The Russian Helicopters (Rosvertol) has delivered four more Mi-171E multipurpose helicopters to China under a 2012 contract for total 52 helicopters. “Counting this delivery, the customer has received a total of 32 helicopters
Turkey is hoping to finalise negotiations to acquire its first long-range anti-missile system from China in six months' time, the head of the country's procurement agency said Thursday. "The immediate goal for us is in about six months to come to a reasonable level in our contract negotiations and to understand whether it's possible to implement this program," Murad Bayar, head of undersecretariat for defense industries, told reporters in Istanbul
China on Tuesday defended a military trade agreement with Turkey to co-produce a missile defense system after the U.S and NATO expressed their concerns
Bell Helicopter signed an agreement to sell two Bell 407GXs to General Dynamic Aero Industry at the Aviation Expo China 2013. "The Bell 407GX continues to gain momentum in China," said Chris Jaran, managing director, China
Chinas military industry has over the last five years supplied major weapons to 35 developing countries. While there are no official figures of actual sales, experts estimate this number to be in the billions
Sweden plans to increase its annual defence spending over the next 10 years, citing the crisis in Ukraine and an "unsettling" development in Russia. The government on Tuesday said that spending would rise gradually until 2024, when the annual defence budget increase would be around 5
The Chinese navy gave US Defense Secretary Chuck Hagel a tour of its new aircraft carrier on Monday in a move toward building stronger US-China ties. Hagel praised the ship tour as a promising step forward for a fledgling US dialogue with the often secretive People's Liberation Army (PLA), but the two sides remained deeply divided on cyber-spying and regional territorial disputes, according to AFP
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