China is set to increase defence spending by more than 7%, the second such boost in a row, after delegates at the annual rubber-stamp National People’s Congress in Beijing approved the boost on Monday. As the one-week conference drew to a close, some 2,900 delegates approved the annual budget, which this year also foresees an increase in defence spending of 7.2% to 1.67 billion yuan ($232.4 million). The renewed boost comes after the Communist leadership once again issued a stern warning for democratic Taiwan, with Chinese Foreign Minister Wang Yi warning other countries last week not to inter…