China to increase defence budget by 11.2 percent for 2012

Beijing, Mar 4(ANI): China plans to enhance its defence budget by 11.2 percent to 670 billion yuan (106.4 billion dollars).

The year's draft defense budget is 67.6 billion yuan ($10.7 billion) more than that of 2011, said Li Zhaoxing, spokesman for the annual session of China's national legislature, The China Daily reports.

"The Chinese government follows the principle of coordinating defense development with economic development. It sets the country's defense spending according to the requirement of national defense and the level of economic development," the paper quoted Li, a spokesman, as saying. (ANI)