China Defends Budget Transparency After Military Outlays Omitted

by 11:30 PM 0 comments
Outside estimates of China?s defense budget are significantly higher, with the Stockholm International Peace Research Institute putting the number at about 55 percent above official figures.
Defense spending had been disclosed in the report since 1980, when China started giving regular financial updates in the aftermath of the Cultural Revolution.
China?s fiscal report -- including the world?s second-largest defense budget -- is among the most closely watched documents released during the annual legislative gathering in Beijing.
China, which lags far behind the U.
S.
?s estimated $596 billion defense expenditures in 2015, is in the midst of its biggest military overhaul since the aftermath of the Korean War.
The group?s $215 billion estimate for 2015 includes military research and development, arms imports, some military construction projects and PLA pension costs.

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