Annual session of Shanghai People's Congress opens
Shanghai has set its gross domestic product growth target at around 6.5 percent for the next five years, said Shanghai Mayor Ying Yong today during the annual session of the Shanghai People's Congress.
The city's economic output surpassed the 3 trillion yuan (US$467 billion) mark for the first time last year, when its economic growth stabilized at 6.9 percent, according to official data.
Average annual economic expansion in Shanghai reached 7.1 percent in the past five years. Successes in deepened reforms in the free trade zone, enhanced innovation, and the improved quality of economic development were considered among the most significant achievements during the period.
Reforms and opening-up remain the government’s top priority this year among efforts to build an open economy at a higher level, Ying said when he was delivering the government work report.
