China vows to use market forces to boost defense capabilities
Source: Reuters
China said on Thursday it would leverage its economy to boost defense capabilities, acknowledging shortcomings with long-held aims to inject more market forces into the development of its military.
President Xi Jinping has set great store on military modernization, including developing an ocean-going "blue water" navy, stealth jets and other advanced technologies to better defend China's growing global interests.
Officials have said China needs to put more emphasis on developing its military-industrial complex to ensure powerful armed forces.
China must use the market to optimize military resource allocation and actively direct economic and social sector investment, the State Council, or cabinet, said in a directive issued by state media.
Read more: http://www.reuters.com/article/us-china-defence-idUSKCN1011QT
