China will increase its military budget by about 10 percent in 2015 in order to achieve national defence modernization , according to an official.
A formal announcement will be made on Thursday when the National People’s Congress (NPC) opens.
Reflecting on the decision, Fu Ying, spokeswoman of the third session of the 12th NPC said that their country would achieve modernisation, of which national defence modernisation was an important part, the BBC reported.
Ms Fu added that it requires a certain guaranteed amount of funding.
According to reports, China would bring in investment into hi-tech equipment such as submarines, stealth jets and naval forces.
China, who is the world’s second-highest military spender, remains far behind the United States, who has pushed forward for a budget of 585 billion dollars for the 2016 fiscal year. (ANI)