LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

China's $175bn defence budget three times higher than India's

China's defence budget: China has the world`s largest standing Army and spends the most on defence after the US in the world. President Xi Jinping has vowed to make the Chinese Army a modern force by cutting down its troops.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
China's $175bn defence budget three times higher than India's
China's defence budget: The budget of $175 billion is three times higher than India`s defence spending. China`s economy, which grew in double-digit for three-decades, has slowed down over the years. Image source: IANS
Updated: Mon, Mar 05, 2018
03:29 pm
IANS
RELATED NEWS
BEWARE! Fake Coronavirus vaccine multi-million dollar scam busted! China at it again? BEWARE! Fake Coronavirus vaccine multi-million dollar scam busted! China at it again?
Operation Hafta Vasooli: 'Loan app scam'! Transactions worth over Rs 25,000 core under scanner, money laundering suspected  Operation Hafta Vasooli: 'Loan app scam'! Transactions worth over Rs 25,000 core under scanner, money laundering suspected
China was largest recipient of FDI in 2020 - Report China was largest recipient of FDI in 2020 - Report
Chinese telecom giant Huawei ropes in former Brazilian President Michel Temer to advise on 5G Chinese telecom giant Huawei ropes in former Brazilian President Michel Temer to advise on 5G
Big blow for China! India may impose huge duty hike on these Chinese imports; Anil Singhvi explains booster shot for GNFC Big blow for China! India may impose huge duty hike on these Chinese imports; Anil Singhvi explains booster shot for GNFC

China on Monday hiked its defence spending to 8.1 per cent of its GDP, pegging its economic growth at 6.5 per cent in 2018. China`s defence budget in 2017 was 7 per cent of the country`s GDP and has been in single digit since 2013, but this year`s military spending is the highest in three years. The budget of $175 billion is three times higher than India`s defence spending. China`s economy, which grew in double-digit for three-decades, has slowed down over the years.

The economic target was announced by Chinese Prime Minister Li Keqiang when he delivered the work report to the National People`s Congress (NPC), China`s Parliament which opened on Monday. China has the world`s largest standing Army and spends the most on defence after the US in the world. President Xi Jinping has vowed to make the Chinese Army a modern force by cutting down its troops.

This was mentioned by Li while delivering the work report at the Great Hall where nearly 3,000 Chinese lawmakers had gathered. "We have completed the task of reducing the armed by 300,000 troops," Li said at the opening session of the NPC.

The two-week Parliament session will be a historic one as the rubber-stamp legislature will remove the two-term cap on the Chinese presidency, giving Xi unfettered power and license to rule until he retires or dies.

The party`s powerful Central Committee in February passed a proposal to remove the two-term cap on Chinese presidency -- a move that has startled the world.

China`s revered leader Deng Xiaoping in 1980s had restricted the presidential five-year tenure to two to avoid the perils which the cult around Mao Zedong had brought.

In 2017, at the Communist Party`s once in a five-year meet, Xi began his second five-term without announcing his successors, a convention his predecessor Hu Jintao and Jiang Zemin had followed.

The move was widely speculated as Xi`s desire to rule the country of 1.4 billion beyond the customary 10 years. Xi is China`s most powerful leader since Mao. He has been conferred with the status of "core", an honorific given only to Mao and Deng.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
ChinaChina defence budgetDefence spendingChina GDPEconomic growthChinese Economy
RELATED NEWS
BEWARE! Fake Coronavirus vaccine multi-million dollar scam busted! China at it again? BEWARE! Fake Coronavirus vaccine multi-million dollar scam busted! China at it again?
Operation Hafta Vasooli: 'Loan app scam'! Transactions worth over Rs 25,000 core under scanner, money laundering suspected  Operation Hafta Vasooli: 'Loan app scam'! Transactions worth over Rs 25,000 core under scanner, money laundering suspected
China was largest recipient of FDI in 2020 - Report China was largest recipient of FDI in 2020 - Report
Chinese telecom giant Huawei ropes in former Brazilian President Michel Temer to advise on 5G Chinese telecom giant Huawei ropes in former Brazilian President Michel Temer to advise on 5G
Big blow for China! India may impose huge duty hike on these Chinese imports; Anil Singhvi explains booster shot for GNFC Big blow for China! India may impose huge duty hike on these Chinese imports; Anil Singhvi explains booster shot for GNFC

LATEST NEWS

Major WhatsApp FLAWS REVEALED and this is how this messaging service reacted

Stocks to buy with Anil Singhvi: Indoco Remedies is Sandeep Jain's recommendation today - Here is why

Summer vacation in Delhi schools from today till THIS date

Stocks in Focus on April 20: Pharma Stocks, ACC, ICICI Prudential, Tech Mahindra to Jubilant Foodworks; here are the 5 Newsmakers of the Day

SIP Stock: Anil Singhvi explains why Welspun India stock is perfect for investors' portfolio

Apex Legends Mobile pre-registration: Will this game overtake PUBG Mobile, COD Mobile and Free Fire in India? Check here!

LPG gas cylinder price: Get cylinder for just Rs 9? Rs 800 discount? Paytm cashback offer EXPLAINED

JKBOSE 11th Result Declared: Check results for Kashmir Division on jkbose.ac.in Website - all details here

Punjab Educational Institutions News: All educational institutions and coaching centres in the state closed till April 30, night curfew returns - check timings and other COVID guidelines

Expert says BUY SBI stock, price target Rs 430, stop-loss Rs 310

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved