|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

China’s Defense Spending to Rise 8.1% in 2018

BEIJING – China’s defense budget will rise by 8.1 percent in 2018, which is above the economic growth target set at 6.5 percent, according to the government’s annual management report presented Monday by Prime Minister Li Keqiang at the annual plenary session of the National People’s Congress (NPC).

The 2018 defense spending will be 1.11 trillion yuan ($175 billion).

This is the third time since 2013 that the increase in China’s defense budget has grown by less than 10 percent.

Li also noted that the size of the armed forces personnel was been reduced by 300,000 in the last five years as part of the modernization process aiming at modernizing the technological and operational systems of the military.

NPC spokesperson Zhang Yesui said on Sunday that the increase in defense spending would serve as a compensation for lower growth in other years and would be used especially in modernizing the equipment and improving the living conditions of the troops.

Li also announced that China will continue to cut steel and coal production capacity this year as part of the ongoing restructuring process of its heavy industry and the transformation of its economic model.

The cut in steel production capacity will be 30 million tons in 2018, while coal production will reduce by 150 million tons.

According to official figures, China cut its production capacity last year by 50 million tons of steel and 250 million tons of coal.

Since the start of the process, the Asian giant has reduced its steel production capacity by 170 million tons, while the coal production capacity has fallen by 800 million tons.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2018 © All rights reserved