Shanghai Economy Surpasses Hong Kong as China Advances

Shanghai vs Hong Kong

March 5 (Bloomberg) -- Bloomberg's Paul Gordon reports reports on Shanghai's economic expansion. Shanghais economy exceeded the size of Hong Kongs for the first time in at least three decades after stimulus spending helped China skirt the global crisis and lead the world out of recession. Bloomberg's Susan Li and Maryam Nemazee also speak. (Source: Bloomberg)

China Military budget Rises by 7.5%

China reins in arms budget

China has announced that its military budget will rise by 7.5 per cent this year, ending more than two decades of annual double-digit increases.

The increase was unveiled on the eve of the annual session of China's parliament, the National People's Congress (NPC).

The meeting of the NPC is the biggest event on the Chinese political calendar, and tight security has been put in place to ensure all goes smoothly.

Al Jazeera's Melissa Chan reports from Beijing.