Chinese Finance Minister Xiao Jie Tuesday shrugged off concerns over China's military transparency, saying there was no opacity in the country's defense budget.
"Let me be very clear, there is no such thing as opacity in China's military spending," Xiao told a press conference on the sidelines of the country's annual parliamentary session.[Special coverage]
China's defense budgets used to be included in a report on the draft central and local budgets submitted to lawmakers for review and approval during the National People's Congress (NPC) session.
This year, however, the report available to media made no mention of the exact figure.
"We made some new changes in the way we compiled the files," Xiao said.
The minister explained that the defense budget, along with the budgets for foreign affairs and public security, was included in a draft budget submitted to lawmakers.
A finance ministry official told Xinhua Monday that the defense budget this year would stand at 1.04 trillion yuan (about 152 billion U.S. dollars), up 7 percent year on year.
Read more:
China punishes NEV manufacturers for fraudulent subsidy claims
China has punished a number of new-energy vehicle (NEV) manufacturers for fraudulently claiming subsidies, Finance Minister Xiao Jie said Tuesday.
"The combined amount of retrieved subsidies and penalties imposed on companies involved is about 2.3 billion yuan (about 333.5 million U.S. dollars)," Xiao told a press conference on the sidelines of the national legislature annual session.
China debt-to-GDP ratio at 36.7 pct, risks under control: minister
China's finance minister on Tuesday reiterated confidence in controlling debt risks despite some irregularities in local governments' financing activities.
"China's government debt risks are generally within control," Finance Minister Xiao Jie said at a press conference on the sidelines of the annual parliamentary session.
China's fiscal deficit target proactive, prudent: minister
China's fiscal deficit target this year is proactive and prudent, Finance Minister Xiao Jie said Tuesday.
Xiao made the remarks at a press conference on the sidelines of the annual parliamentary session.
