UPDATE 2-China defence budget rise to defy slowing economy

March 4, 2015 6:59 AM

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BEIJING, March 4 (Reuters) - China's defence budget this year will rise about 10 percent compared with 2014, a top government official said on Wednesday, outpacing the slowing economy as the country ramps up investment in high-tech equipment such as submarines and stealth jets.

Parliament spokeswoman Fu Ying told a news conference that the actual figure would be released on Thursday, when the annual session of the largely rubber-stamp National People's Congress opens. Last year, defence spending rose 12.2 percent to $130 billion, second only to the United States.

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