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Mayor is confident of hitting growth target

SHANGHAI is confident of achieving economic growth of 9 percent this year, Mayor Han Zheng said yesterday.

Several economic indicators, including those for consumption, the service industry, investment and employment, are showing signs of recovery with month-by-month improvement in the first four months this year, Han told Lawrence Cannon, Canada's Minister of Foreign Affairs, yesterday in Shanghai.

About 18,000 new jobs were created during the first four months, he said.

"The economic performance was better than we expected," Han said. "We are confident we'll achieve our goal set at the beginning of the year."

The city has pledged to achieve economic growth of about 9 percent and keep unemployment rate at 4.5 percent or less this year. The income of Shanghai residents is expected to post an annual growth of more than 10 percent.

Shanghai's consumer price index, the main gauge of inflation, is expected to move in line with the national level.

On Monday, Shanghai Party Secretary Yu Zhengsheng said he expected Shanghai's industrial output to start growing again next month, after flattening off this month.

Shanghai's economic growth tailed off to 3.1 percent in the first quarter after posting 9.7-percent growth last year.


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