China's Military Spending

China says it plans to increase military spending by nearly 18% this year, to 417.8bn yuan $59bn; £30bn).

The figure was revealed ahead of China's annual parliamentary session, which begins on Wednesday.

Just before the announcement, the US released a report criticising China's military spending, and voicing concern over advances in space and cyberspace.

China rejected the Pentagon report as a "serious distortion of facts" that could harm its relations with the US.

"It breaks international norms... We do not pose a threat to any country. The US should drop its Cold War mentality," the foreign ministry said in a statement.

For more, click here.

China says it will increase their military spending by more than 18 percent this year. The U.S. denounced this new spending policy and China responded by saying that the U.S should drop their Cold War mentality. China says the spending will primarily go to the national defense funds but even so, this is a scary thought for the U.S.