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China’s defense budget will jump 7.5 percent this year, down slightly from last year’s 8.1 percent, as Beijing grapples with ongoing territorial disputes and seeks to create a “world-class” military, a draft budget from the annual session of the country’s rubber-stamp parliament showed Tuesday.

The rate is slower than last year but will still outpace the economic growth target for the year, which Beijing set at 6.0 to 6.5 percent, a separate report showed.

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