HONG KONG (Yonhap) -- China announced Sunday it will increase its defense budget by 11 percent this year, saying it needs to steadily expand its military spending.
Li Zhaoxing, the spokesman for the country's top legislature Chinese National People's Congress, said at a press conference that China plans to raise its defense budget by 11.2 percent to 670.2 billion yuan ($106.4 billion) in 2012, following an increase of 12.7 percent last year.
China is set to open the annual session of its National People's Congress in Beijing on Monday for about 10 days, in which it will map out its major policies.
"The Chinese government will adhere to the principle of coordinated development of national defense and economic construction and will reasonably determine the scale of expenditure needed for defense," Li said in the televised conference from Beijing.
"The government will maintain a reasonable and appropriate growth rate in defense expenditure, matching the level of rapid economic development."
Li said China, in 2011, spent 1.28 percent of its gross domestic product (GDP) on defense, compared to 2 percent or more in countries such as the United States and Britain.
He stressed that China's defense and diplomacy is aimed at safeguarding the country's sovereignty and security, and maintaining world peace.