China's defence budget to increase in 2014

China has planned to raise its defence budget by 12.2 percent to 808.2 billion yuan (about $132 billion) in 2014, according to a draft budget report submitted to the national legislature for review Wednesday.

In 2013, the country spent 720.197 billion yuan on national defence, a 10.7-percent increase from the previous year. Double-digit growth in China's defence budget in recent years has caused concerns among some western countries. But experts said China's military expenditure is moderate and in line with the country's economic and security conditions, reported Xinhua.

Chen Zhou, a researcher with the academy of military sciences and a deputy to the National People's Congress, said China's current military spending is at a "reasonable and balanced" level. "Compared with major world powers, China's spending in national defence is considerably low, either in terms of its share in the GDP or in per capita terms," he said.

"In order to protect the country and safeguard regional peace and stability, China has to enhance its national defence," he said. Chen said China was under increasing strategic pressure, as the Asia-Pacific region has become a global geo-political and economic centre, with some major powers "speeding up strategic adjustments and strengthening military alliance".

Highlighting rising maritime security risks, territorial and maritime disputes, as well as terrorist threats, Chen said "the comparatively low level of input into national defence, coupled with a high-risk security environment, dictates that we must raise our defence budget on a moderate scale." A report released by london's International Institute for Strategic Studies showed the US remained the world's biggest defence spender in 2013, with a budget of $600.4 billion in 2013.