BEIJING -- China's annual defense spending is set to grow by 7.2% this year, well above the country's economic growth target of "around 5%," amid high tensions with the U.S. and festering disputes over Taiwan and the East and South China Seas.
China People's Congress
China defense budget grows 7.2% despite other 'belt-tightening'
Military spending outpaces GDP growth; Beijing keeps firm stance on Hong Kong and Taiwan
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A military delegation crosses Tiananmen Square on the way to a meeting as the Chinese People's Political Consultative Conference (CPPCC) gets underway in Beijing on March 4. © Reuters
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