Military budget of China
The military budget of China is the portion of the overall budget of China that is allocated for the funding of the military of China. This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and development and procurement of new weapons, equipment, and vehicles. Every March, as part of its annual state budget, China releases a single overall figure for national military expenditures.In 2016, the Chinese government's official defense spending figure was $146 billion, an increase of 11% from the budget of $131 billion in 2014. This makes China's military budget the second largest in the world behind the US. According to the Stockholm International Peace Research Institute, SIPRI, China became the world's third largest exporter of major arms in 2010-14, an increase of 143 per cent from the period 2005-2009.