China’s State Council spokesperson Fu Ying announced (Beijing, March 03) that China’s defense budget for 2015 will increase by 10% to 889 billion Yuan (approx US $ 142 billion). This is less than 12.2% increase in 2014, and 10.7% in 2013.
China continues to insist that its defense expenditure still fails to fill the wide gap between its arms and equipment and that of some foreign countries. The US military budget for 2016 was recently signed by President Barack Obama at US $ 581 billion, while the Russian budget for 2016 is estimated at US $ 93.9 billion. Japan and India come way behind, in the range of US $ 42 billion and US $ 22 billion (approx) respectively.