China defence budget to increase 12.2% in 2014

China plans to raise its defense budget by 12.2 percent to 808.2 billion yuan (about 132 billion U.S. dollars) in 2014, according to a draft budget report submitted to the national legislature for review on Wednesday. In 2013, the country spent 720.197 billion yuan on national defense, a 10.7-percent increase from the previous year. Double-digit growth in China’s defense budget in recent years has caused concerns from some western countries. But experts said China’s military expenditure is moderate and in line with the country’s economic and security conditions.A researcher with the Academy of Military Sciences and a deputy to the National People’s Congress (NPC), said China’s current military spending is at a “reasonable and balanced” level.“Compared with major powers in the world, China’s spending in national defense is considerably low either in terms of its share in the GDP or in per capita terms,” he said.“In order to protect the country and safeguard regional peace and stability, China has to enhance its national defense,” he said.A report released by London’s International Institute for Strategic Studies showed the United States remained the world’s biggest defense spender in 2013, with a budget of 600.4 billion U.S. dollars in 2013.