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Sunday, March 04, 2012

China boosts defense spending by 11.2 percent

[DF-21C / DF-25 Conventional Medium-Range Ballistic Missile]China will boost military spending by 11.2 percent this year, the government said on Sunday, unveiling Beijing's first defense budget since President Barack Obama launched a "pivot" to reinforce U.S. influence across the Asia-Pacific.

The increase was announced by Li Zhaoxing, the spokesman for China's parliament, and will bring official spending on the People's Liberation Army to 670.3 billion yuan ($110 billion) for 2012, after a 12.7 percent increase last year and a nearly unbroken string of double-digit rises across two decades.

Beijing's public budget is widely thought by foreign experts to undercount its real spending on military modernization, which has unnerved Asian neighbors and drawn repeated calls from Washington for China to share more about its intentions.

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