China to increase defence budget gradually
Chinese president says that China is going to increase the defence budget while its national economy grows.world Updated: Aug 01, 2007 12:54 IST
Chinese President Hu Jintao said on Wednesday that his country is going to increase the defence budget while its national economy grows.
"We will gradually increase input in national defence as the economy grows, and continue to modernise national defence and the armed forces in a way that serves the interests of national security and development," said Hu, also chairman of the Central Military Commission.
He was speaking at a grand rally marking the 80th anniversary of the founding of the Chinese People's Liberation Army (PLA) at the Great Hall of the People in Beijing.
The modernisation of national defence and armed forces "is the historical mission of the PLA and the common cause of the Chinese people of all ethnic groups", Hu said.
"Economic growth is the basis for enhancing defence capabilities, which is in turn an important indicator of the overall national strength," Hu said.