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Wednesday, March 05, 2014

China says 2014 military budget to rise 12.2 percent

LiaoningChina will increase military spending by 12.2 percent this year to 808.23 billion yuan, the government said on Wednesday, partly to beef up coastal and air defences and to develop more high-tech weapons.

The government announced its spending plan for the 2.3 million-strong People's Liberation Army (PLA) at the opening of parliament's annual meeting.

The increase builds on a nearly unbroken run of double-digit hikes in the defence budget for the past two decades.

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