Sign in to comment!

Menu
Home

MILITARY

Beijing criticizes Pentagon report on Chinese military, defends spending increases

Beijing is criticizing a Pentagon report saying that big budget increases have boosted the Chinese military's ability to project military power abroad.

Foreign Ministry spokesman Hong Lei said Friday that China's armed forces are purely for defense. He said the U.S. should "shake off bias" and stop issuing annual reports on China.

The Pentagon report said China is developing new types of missiles, expanding the reach of its navy and upgrading its air force. It said China also is investing heavily in cyberspace, space and electronic warfare.

China in March announced a 12.2 percent increase in military spending to $132 billion, the second-highest defense budget for any nation behind the U.S.

Separately, China's official Xinhua News Agency said the Pentagon report was "filled with flawed facts," but gave no examples.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.23% up 4.19%  
15 Y Fixed Graph 3.26% dw 3.27%  
30 Y Fixed Jumbo Graph 4.62% dw 4.64%  
5/1 ARM Graph 3.70% up 3.38%  
5/1 Jumbo ARM Graph 4.07% up 4.01%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.29% -- 4.29%  
$50K HELOC Graph 4.04% -- 4.04%  
$30K Loan Graph 5.09% up 5.08%  
$50K Loan Graph 4.52% -- 4.52%  
$75K Loan Graph 4.52% -- 4.52%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% -- 2.93%  
36 M Used Graph 3.46% dw 3.47%  
48 M New Graph 3.22% -- 3.22%  
48 M Used Graph 2.99% up 2.98%  
60 M New Graph 3.24% -- 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% -- 0.35%  
1 yr Graph 0.69% up 0.68%  
5 yr Graph 1.39% -- 1.39%