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Beijing increases military spending by 13pc
BEIJING. Mar 6: China will increase military spending by 12.7 per cent this year, outstripping an expected economic growth rate of about seven per cent, the finance minister said today, reports AP.
The spending hike for the People's Liberation Army, the world's largest military, comes amid renewed tensions over Taiwan and matched a 12.7 increase in last year's budget.
China lavished double-digit spending increases on the PLA for much of the 1990s. reflecting the military's political clout and efforts to modernise force of 2.5 million. China's growing military might has raised concerns among other Asian nations. some of which have territorial disputes will) Beijing.
hi announcing this year 2000 budget to the national legislature. Finance Minister Xiang Hualcheng said 120.5 billion yuan ($14?5 billion) would be spent on national defence. The funds will mainly cover salary and allowance increases for troops, as well as expenditures on garrisoning Macau, the territory that Portugal handed
back to Chinese rule in December. Xiang said.
Xiang did not break down military spending. Western analysts believe China's actual defense spending Is three times higher than the published figure Purchases ot sophisticated weapons at home and abroad are not included in the official figure
Xiang railed in his speech against wasteful spending, saying money that China can ill-afford Is being lavished on increasingly opulent hotels, office buildings and auditoriums and on "high consumption."
"Some local governments even cannot guarantee funds for performing tneir normal functions. but such phenomena as ostentatious and extravagant behaviours and pleasure-seeking are still prevalent in some localities and departments. Budgetary funds are seriously lost and wasted." Xiang safer "This has aroused strong resentment among the people."
Xiang's comments expanded on an anti-corruption theme running through this year’s annual 10-day session of the Na-
tional People’s Congress. At the meeting's opening on Sunday. Premier Zhu Rongji promised a tougher government fight to punish corrupt officials, no matter how powerful.
Xiang said overall central government spending would Increase by 12.3 per cent to 920.3 billion yuan ($111.1 billion). Revenue will Increase by 7.9 per cent to 690.4 billion ($83.3 bil-
lion). That will leave a deficit of 229.9 billion yuan ($27.7 billion). up from the 179.7 billion yuan ($21.7 billion) deficit Xiang said was recorded in 1999. But he attributed the deficit Increase mainly to a change in the way the budget Is calculated, for the first time including interest Kaymcnts on government
onds
Xiang said spending on social security increased 1 10 per cent last year to 36 billion yuan ($4.3 billion), much of it to support retirees and workers laid-off from state-owned factories. This year, the government will spend 70.7 billion yuan ($8.5 billion) on social security.