China's Military Budget Grows by 8.5% Despite Economic Slowdown - Pentagon

Despite the slowdown of the economic growth, Beijing increased its military budget by 8.5 percent in 2017 in comparison to the previous year, the Pentagon stated in a report on Tuesday.

WASHINGTON (Sputnik) — China's military budget grew by 8.5 percent since last year even as economic growth slowed in the country, the US Department of Defense said in a report.

"China’s officially-disclosed military budget grew at an average of 8.5 percent per year in inflation-adjusted terms from 2007 through 2016, and Chinese leaders seem committed to increases in defense spending for the foreseeable future, even as China’s economic growth slows," the report said on Tuesday.

The statement was made in a Defense Department report to Congress, titled "Military and Security Developments Involving the People's Republic of China."

The Pentagon submits a report each year on China's military and security developments.