Extract from Xinhua: “China said Sunday it plans to raise its defense budget by 11.2 % to 670 billion yuan (106.4 billion U.S. dollars) in 2012. …
China’s military spending mainly comprises the living expenditures of service people, expenses for training and maintenance, and spending on equipment, he said. The costs for research, experiment, procurement, repair, transport and storage of all weapons and equipment, including new types of weapons, are included in the defense budget that is published every year, the spokesman said.
… Compared to other major countries, China’s military spending is low given its population of 1.3 billion, vast land area and long coastlines, Li said. While China’s military spending amounted to 1.28 % of its GDP in 2011, that of the United States, Britain and other countries all exceed 2 %, said Li. …
By June last year, China had sent a total of 2,044 peace-keeping personnel to 12 peace-keeping zones around the world, and the Chinese navy has sent escort vessels to the Gulf of Aden and waters off the coast of Somalia to protect thousands of commercial vessels from China and other countries, according to Li.”
http://news.xinhuanet.com/english/china/2012-03/04/c_131445012.htm
See also: https://chindia-alert.org/political-factors/geopolitics-chinese/
A significant rise. But still less than 1/7 of US spend, though the latter is expected to halve over the next few years. Also, salary and living expenses for up to 3 million service personnel does cost a pretty penny!
CHINDIA ALERT: You'll be living in their world, very soon 