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In 2010, China's defense budget was the second largest in the world at US$76.4 billion, compared to the U.S.'s $692.8 billion defense budget. In March 2011, Beijing announced a 12.7% increase in its military budget to approximately $91.5 billion. China's defense spending accounts for 1.3% of its GDP. At 1.3 billion people, China spends an annual $60 on their defense budget per capita. At 1/4 China's population, the U.S. spends 40 times more at $2300 per citizen. China has 2,285,500 active military personnel. The U.S. operates 11 of the world's 20 active aircraft carriers. China's first aircraft carrier recently went into service. China has an estimated 1500 missiles pointed at Taiwan.