The real China's defense budget is around $120~160 billion a year, roughly 2.5% of GDP.
Having said this, China's military is surprisingly expensive to run. While one would think China's military gear cost a fraction of the US ones, they also last a fraction, and stuff like jet engines have to be replaced every 1000 hours, instead of 3~4000 hours like US jets. So the PLA's acquisition and maintenance is roughly the same as the US budget, which explains why China's military power still can't match that of the US.
try and prove this.i dare you.