/ AFP / STR / China OUT (Photo credit should read STR/AFP/Getty Images)China signaled a continued slowdown in defense spending growth this year, as President Xi Jinping presses ahead with a sweeping military overhaul.
Last year, the country budgeted a 7.6 percent uptick in military spending to 954.4 billion yuan (equal to $147 billion at the time), the slowest increase in six years.
China?s outlays are dwarfed by U.S. expenditures, which may be boosted further as President Donald Trump seeks to add $84 billion to defense spending over the next two years.
TOPSHOT - This undated photo shows two Chinese jet fighters during a military drill in the South China Sea near China`s Hainan Island.
An area off the east coast of China`s island province of Hainan hosted military exercises from July 19 to 21.
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