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HONG KONG (MarketWatch) -- An annual report produced by Japan's defense ministry has highlighted growing concern over China's military buildup, according to reports. The Nikkei business daily reported Friday the annual document produced by the Defense Ministry and entitled "Defense of Japan 2007," was approved at a cabinet meeting Friday. Among highlights, the document reportedly mentions China is continuing to build up its air force, the military balance between Taiwan and China is shifting in favor of Beijing, and North Korea's missile and nuclear technology pose a threat to Japanese security, according to the Nikkei report. The report also mentions "the objective of China's modernization of its defense capabilities seems to go beyond the Taiwan issue," according to the Nikkei report. The defense ministry document also called for a greater role in international peacekeeping and deeper cooperation with the U.S. to ensure regional security, according to a report by the Associated Press