China’s defence outlays are closely watched as a barometer of Beijing’s strategic priorities as it presses ahead with military modernisation. BEIJING: China will raise its defence budget for the year by 7 per cent, a slight dip from last year’s 7.2 per cent increase amid strategic rivalry with the United States, tensions in the Taiwan Strait and a widening conflict in the Middle East. The pot will grow to 1.91 trillion yuan (US$276.9 billion), according to a draft budget report seen by CNA on