BBC Chinese recently reported that China’s defense budget submitted to the National People’s Congress increased by 12.2 percent to US$131.6 billion. In his speech to the Congress, Chinese Premier Li Keqiang explained that the defense budget increase was for research into new technology, high-tech weaponry enhancements, day-to-day military operations, as well as coastal and aero defense. Li emphasized the defense of China’s “marine interests” and China’s becoming a “marine power.” He also advised that China should defend “the fruits of the Second World War.” The Japanese Chief Cabinet Secretary commented on the new Chinese defense budget, saying the world is concerned about China’s [lack of] transparency on defense spending. The Chinese media argued that China’s defense budget is still far below the level of the U.S. defense budget (US$ 633 billion).
Source: BBC Chinese, March 5, 2014