Dateline City:
London
China now third largest importer of defence equipment; Asia Pacific to solidify role as driver of defence industry growth
LONDON, UK (2 September, 2015) – China’s defence budget is expected to almost double by the close of this decade, according to new analysis released today by IHS Inc. (NYSE: IHS), the leading global source of critical information and insight.
China’s Defence Budget:
In 2010, China spent an estimated $134 billion on defence. By 2020, that figure is forecast to almost double to $260 billion. Across this decade, China is expected to spend almost $2 trillion on defence.
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