China to reduce military by 300,000—Xi Jinping
Chinese military officers arrive at the Great Hall of the People in Beijing Wednesday, March 4, 2015. China’s military budget will grow by about 10 percent in the coming year, a legislative spokeswoman said Wednesday, despite slowing economic growth that fell to 7.4 percent last year and is expected to further decline in 2015. AP
BEIJING, China—China will reduce the size of its standing army — the largest in the world — by 300,000 troops, President Xi Jinping said ahead of a huge military parade.
Beijing will “not seek hegemony” in the world, Xi said. Authorities have been making personnel cuts to the 2.3 million strong People’s Liberation Army for decades in a bid to make it more efficient.
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