China sets GDP target at about 6.5%, omitting aim to go higher
The figure released in a report on Monday to the ceremonial National People's Congress is an increase in the growth rate from a year ago, when finance ministry officials said the budget was rising 7 per cent to 1 trillion yuan (NZ$209 billion).
That would leave the People's Liberation Army's strength at around two million troops.
The 2018 budget will be $175 billion, 8.1 percent up from the year before.
The budget increase, a figure that is closely watched around the world for clues to China's strategic intentions, comes as economic growth has picked up, expanded 6.9 percent past year, the first acceleration in annual growth since 2010.
Xi, who began his second five-year term as China's leader in October last year, has pledged to build a society where all citizens can enjoy comfortable lives before 2021, the 100th anniversary of the ruling Communist Party's founding.
The 2018 defence allocation comes as China's economic growth expanded 6.9 percent previous year, in the first acceleration in annual growth since 2010. China kept its 2018 economic growth target at around 6.5 percent, Premier Li Keqiang said in remarks prepared for delivery at the parliament's opening session, the same as in 2017 despite the pick up in growth.
The increase of Chinas defence budget by 8.1 per cent this year, is three times higher than Indias latest defence budget of about United States dollars 46 billion.
"Many countries, especially the medium and small ones, have tasted sweet revenue rises because of the increasing number of Chinese travellers", Zhang said.
China's revered leader Deng Xiaoping in 1980 had restricted the presidential five-year tenure to two to avoid the perils which the cult around Mao Zedong had brought. But in its history, it has never vetoed a proposal by China's Communist Party.
The PLA has stocked up on stealth fighter jets, warships and high-tech weaponry over the years.
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He has been critical of China's trade policies.
Its military has one operational carrier - the Liaoning - a Soviet-era vessel bought from Ukraine that was refitted and commissioned in 2012.
Defense spending is still about a quarter of USA levels, but nevertheless its long-term growth, combined with a more assertive enforcement of China's territorial claims, has rattled some of China's neighbors.
In his annual work report, Li also said China has cut its budget deficit target for the first time since 2012, suggesting Beijing will be more watchful of fiscal spending while not tapping the brakes so hard that it risks a sharper slowdown.
Since 2008, its navy has participated in anti-piracy operations off the coast of Somalia and in the Gulf of Aden. I expect eventually we will see warships and aircraft there regularly, if not based there permanently.
Brunei, Malaysia, the Philippines, Vietnam and Taiwan have contested China's claims to the sea.
China will host US officials for a new round of dialogue on trade issues, Vice Foreign Minister Zhang Yesui said at a briefing Sunday, as tensions rise between the world's two largest economies.
"Whether or not this is a "threat" depends on how China utilises its capabilities".
"The smell of gunpowder is growing thicker", he said.
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