China announces 8.1% defence budget increase

Posted March 10, 2018

The report also said China would clamp down on the kind of financially risky operations which have threatened to cause the collapse of major firms.

Wang Chen, secretary general of the parliamentary session, told lawmakers on Monday that there was a "unanimous call" from all those they surveyed about the reform scrapping term limits, and that was the "main consideration" for proposing it. "The government doesn't publish full and complete figures for stability maintenance spending, which is absolutely huge, across the whole country-more than a trillion yuan (U.S. $157.5 billion)".

Chinese officials have defended the end of Xi's term limits as necessary to ensure continuity as Beijing undertakes a sprawling long-range agenda aimed at making state industry competitive and productive, developing profitable high-tech industry, reducing poverty and cleaning up China's battered environment.

Though China doesn't wish to be seen as a Russian ally, there is a renewed sense of big-power competition, Yue said.

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"It looks as if Xi will be president and Wang will be his vice president".

Instead he referred to the party constitution, which has no term limits for who heads the party and heads the military, positions Xi also holds and which are considered more senior in the country's hierarchy than the presidency.

It is nearly impossible to precisely gauge genuine public opinion on the extension of Xi's rule, with state media strictly controlled by the government and the internet diligently scoured by censors for any comment that harbours explicit criticism or veiled mockery.

Late on Sunday, state television's WeChat account began running a slick one-minute video, subtitled in English, showing Xi as a cuddly cartoon character and listing which delegations he had visited in previous years to offer guidance.

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"The government will have to continue with the same fiscal support as past year", but also spend more and increase off-balance sheet borrowing, she said. "It reflects the will of the people".

"It's the difference between heaven and earth compared to the endless debates for their own political interests between certain ruling and opposition parties in the West", it wrote, without saying which foreign reporters had offered praise. President Donald Trump has since proposed an increase in 2018 to counter the growing strength of China and Russian Federation. Presenting his "work report", which is similar to budgetary proposals, Premier Li Keqiang made it clear that funds would not be an issue for Beijing to fulfill its military ambitions.

China plans to "actively" resolve debt risk at the local government level and to increase the liquidity of local government bonds, the ministry report said.

Another delegate from central Henan province said "Xi Jinping is great", but several other legislators refused to answer questions about the amendment.

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