Shanghai sets 2025 growth target at around 5 percent: official

(ECNS) -- Shanghai has set its 2025 GDP growth target at around five percent, the city’s mayor Gong Zheng announced Wednesday, following Beijing’s announcement of the same growth target on Tuesday.

Gong delivered the Shanghai government work report at the annual session of the Shanghai People’s Congress, the city’s legislative body.

The growth in per capita disposable income for Shanghai residents would keep pace with overall economic expansion, Gong said. Consumer prices are projected to rise by about 2 percent, he added.

Revenue in local general public budget is expected to increase by 2 percent while citywide resarch and development expenditure is planned to account for 4.5 percent of the city’s GDP, he noted.

Energy consumption and carbon dioxide emissions per unit GDP are expected to decline further, and major pollutant emission for key projects will meet the targets goal set by the central government, he add.