China increases military spending by 11%

China unveiled plans to increase its defense spending by 11.2% in 2012, outpacing expected overall GDP growth, Bloomberg reported. Li Zhaoxing, spokesperson for the National People’s Congress, said that the budget would be set at RMB670 billion (US$106.4 billion) this year. China’s military spending has more than doubled since 2006. However, experts say that while the official budget probably underestimates true spending, the amount of off-budget items like foreign arms procurement have decreased in recent years. China also includes veteran support in its budget while many other countries, such as the US, do not. Defense was 1.3% of GDP last year, compared to 1.4% in 2006. China engaged in a series of maritime disputes with its neighbors in 2010 and 2011, though experts say it has recently showed more restraint.