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Shanghai lowers growth target at 9%

(China Daily)
Updated: 2007-01-29 09:51

Shanghaihas set its economic growth target this year at about 9 percent, the lowest in 15 years, to aim for more balanced and sustainable economic and social development, Mayor Han Zheng said yesterday.

The eastern metropolis has maintained double-digit growth for 15 years. Last year, itsGDPtotaled 1.03 trillion yuan ($132 billion), up 12 percent from 2005.

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The city needs to reduce energy consumption and safeguard the environment in its pursuit of economic development; and seek a balance between man and nature, Han said in his government work report.

"Shanghai cannot afford to seek economic development at the cost of its resources and environment," he stressed.

The city's spending on environment protection this year will be around 3 percent of its GDP. It plans to slash energy consumption per unit of GDP by 4 percent from the 2006 level and cut pollutant emissions by 2 percent.

Xinhua

                                                                        (China Daily 01/29/2007 page1)