China's annual defense budget 2008-2012 (figures approximate)
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E-mail China.org.cn, March 7, 2012
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Editor's notes:
China plans to raise its defense budget to 670 billion yuan (US$106.4 billion) in 2012. In 2011, China's military expenditures represented 1.28 percent of the country's GDP. Comparatively, in the United States and Britain, the figure was higher than 2 percent.
Chinese military spending, particularly the country's defense budget, is given high attention every year during the National People's Congress (NPC) sessions.
The following table shows China's defense budget figures and approximate year-on-year increase since 2008:
(The current foreign exchange rate between dollar and yuan is about 1 to 6.3)
| Year? | 2008 | 2009 | 2010 | 2011 | 2012 | |
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?Defense budget | ?417.769 billion yuan | 480.686 billion yuan? | ?532.115 billion yuan | 601.1 billion yuan? | 670.27 billion yuan? |
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YoY defense budget increase? | 17.6%? | 15.1%? | 10.7%? | 13.0%? | 11.5%? |
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Gross domestic product (GDP)? | 31.4045 trillion yuan? | 34.0903 trillion yuan? | 40.1513 trillion yuan? | 47.1564 trillion yuan? |
———— (to target at 7.5% increase) |
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Defense budget/GDP Ratio? | 1.33%? | ?1.41% | 1.33%? | ?1.27% | ————? |
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State financial expenditures? | 6,259.266 billion yuan? | 7,629.993 billion yuan? | 8,987.416 billion yuan? | 10,893 billion yuan? | ————? |
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?Defense budget/State financial expenditures ratio | 6.67%? | 6.30%? | ?5.92% | 5.52%? | ————? |
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