Chinese Military Budget

                 In 2014, the Chinese government allocated $131.57 billion as Chinese annual military budget. 

This is an increase from the 2013 military budget (an increase of 12.2%) With this big leap, China becomes 

the second leading nation in the world in huge spending for military budget. The U.S. stands in the first place 

in allocation of huge money for the annual military budget.

     

                      

 In 2003, the defense spending of China was estimated to be 38 billion dollars (2.3% of China’s GDP). The 

official figure was 22.4 billion dollars.

                   

                       Chinese military spending doubled between 1997 and 2003, getting close to the defense 

spending of the U.K. and Japan. It continued to grow 10% annually during 2003-2005. The Chinese 

military 

spending for 2009 was US$ 100 billion as per the Report of  SIPRI. In 2012, reports said that the Chinese 

military spending could go upto $525.40 by the year 2015, which is larger than all other Asian nations 

combined.
            
                          China became the third largest exporter of major arms in 2010-14