China sets 7.5% growth goal, boosts military spending
World BusinessMar 5, 2014
China unveiled Wednesday an economic growth target of 7.5 percent for this year and plans to boost its 2014 military spending by 12.2 percent, marking a fresh double-digit increase of its defense budget.The world's second-largest economy announced a military budget of 808.23 billion yuan ($131.8 billion), compared with 720 billion yuan last year, as it opened the annual legislative session of China's National People's Congress.China's rapid military modernization has increased tensions with its