China 2016 military budget to rise 7.6 percent

Military delegates arrive at the Great Hall of the People before a meeting ahead of Saturday’s opening ceremony of the National People’s Congress (NPC), in Beijing, China March 4, 2016.

China will increase military spending by 7.6 percent this year to 954.35 billion yuan ($146.67 billion), the government announced on Saturday.

Last year, defense spending was budgeted to rise 10.1 percent to 886.9 billion yuan.

On Friday, the spokeswoman for China’s parliament said the 2016 rise would be about 7 to 8 percent.

($1 = 6.5066 Chinese yuan renminbi)