China raises defence budget for eight consecutive year with 7.2% increase to USD 225 Billion
Image Credit: latestly
China on Sunday hiked its defence budget by 7.2 per cent, marginally higher than last year, to 1.55 trillion yuan (about USD 225 billion), marking the eighth consecutive year of increase in its military spending. China, last year, pegged its defence budget at 1.45 trillion yuan, a 7.1 per cent increase. This year the defence spending is increased to 1.55 trillion yuan.