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China opened its annual National People's Congress on Wednesday morning.
There, military budget was given a boost and the economic growth target was retained.
Our Shin Se-min reports. China has unveiled its master plan for the year,... and it includes
a bigger military budget and a stable economic growth target.
The figures were announced on Wednesday,... the first day of an annual legislative session
of the National People's Congress. Beijing will boost its military defense budget
by 12-point 2 percent to about 131 billion U.S. dollars.
That percentage is greater than that of total government expenditure, which will rise 9-and-a-half
percent in 2014. The fatter defense budget comes as Chinese
President Xi Jinping seeks to create a stronger military amid heightened tensions in the East
Asian region. With regard to economic growth, last year's
target of 7-point-5 percent was retained. The world's second-largest economy grew 7-point
7 percent last year,... its worst rate of growth since 1999.
The 7-point-5 percent target for 2014 might make it difficult to achieve Beijing's goals
of curbing credit risks and solving the nation's pollution problem.
But Premier Li Keqiang said smog would be a priority, describing the issue as a "red-light
warning" against inefficiency. The full session of the Congress will run
for a total of nine days,... during which corruption, pollution and regional issues
will be addressed. Shin Se-min, Arirang News.