More Details Released On China's Massive Defense Budget

Military delegates gathered outside the Great Hall in Beijing for a meeting of the National People's Congress on Monday. Reuters

China Boosts Defense Budget By 10.7 Percent For 2013 -- Reuters

(Reuters) - China will raise military spending by 10.7 percent this year to 740.6 billion yuan ($119 billion), the government announced on Tuesday, adding to a nearly unbroken series of double-digit increases in the defense budget over two decades.

The government also announced that the domestic security budget would rise 8.7 percent to 769.1 billion yuan, the third year in a row it will outstrip defense spending.

"We should accelerate the modernization of national defense and the armed forces so as to strengthen China's defense and military capabilities," Premier Wen Jiabao said in remarks prepared for delivery ahead of the start of China's annual meeting of parliament.

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More News On China's Defense Budget

China Boosts Defense Spending as Military Modernizes Arsenal -- Bloomberg Businessweek
China defence budget to rise 10.7% in 2013: Xinhua -- France 24/AFP
China's Xi Courts Military -- Wall Street Journal
China defends growing military spending -- Al Jazeera
China to maintain defense spending, fight waste -- Washington Examiner
China Defends Expanded Military After Memories of ‘Bullying’ -- Bloomberg
China defense budget to rise 10.7 percent in 2013—Xinhua -- Inquirer
China defense budget to grow 10.7% in 2013 -- China.org.cn (China)
Defense budget 'no threat' -- Yang Jingjie, Global Times (China)