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Mayor optimistic on city’s outlook
Print Edition
SHANGHAI Mayor Yang Xiong said yesterday he is “very confident” about the city’s economic growth and social development prospects over the next five years.
“I am optimistic because Shanghai has sound economic fundamentals and great potential thanks to its reform efforts,” he told a media briefing following the closure of the annual session of the Shanghai People’s Congress, at which the city’s 13th Five-Year Plan (2016-20) was approved.
“Although growth has slowed in recent years, the city has made significant progress in upgrading its industries, raising fiscal income and creating jobs,” he said.
Shanghai was one of the first cities in China to enter the “new normal” growth stage, which is defined by slower expansion, but greater quality and efficiency, Yang said.
It is also a pioneer in reform and opening up, which are key to achieving its goal to become a global center of economy, finance, trade and shipping.
“Openness is the biggest advantage Shanghai has,” he said. “We will continue to be open, especially with our various trials in the China (Shanghai) Pilot Free Trade Zone.”
The city government has set a growth target of between 6.5 and 7 percent for this year, and not less than 6.5 percent a year through 2020, Yang told reporters.
Shanghai’s economy grew 6.9 percent last year to 2.5 trillion yuan (US$380.2 billion), with the service sector contributing almost 68 percent of the total.
“Shanghai will continue to promote an innovation-driven economy,” Yang said, adding that the homegrown C919 large passenger aircraft is scheduled to take to the sky later this year after successfully rolling off the assembly line in 2015.
People should expect more “milestone projects” as the city becomes an innovation center for science and technology, he said.
More than 400 “innovators” were provided with accommodation and facilities last year, the number of technology startups has been growing steadily, and more teams than ever took part in last year’s innovation competition, Yang said.
When asked about the city’s plans to provide up to 3 million yuan worth of incentives to a single project by venture capital and angel investors, he said it was common practice around the world.
“Questioning the feasibility of the scheme, however, will help us to ensure that when we implement it, we do our best to avoid misbehavior or cheating,” he said.
Another of the hot topics at this year’s legislative meeting was air pollution, and in its five-year plan, the government has set a goal to reduce the density of PM2.5 particles to 42 micrograms per cubic meter by 2020, from 53 last year.
Achieving that target will mean continued controls on cars, heavy polluting factories and construction sites, Yang said.
Other targets include a crackdown on illegal land grabs for development, he said, adding that the government’s restrictions on property purchases will remain in place for the duration of 2016.
Last year in Shanghai, sales of pre-owned homes by floor area almost tripled to 30 million square meters, while prices also soared, he said.
“We will try to optimize the supply structure, and increase the construction of small- and medium-sized homes.”
Meanwhile, the mayor said that the city’s health authorities are ready to cope with the expected surge in births as a result of the new family planning rules.
An extra 40,000 to 50,000 babies are likely to be born this year, which would take the total to about 260,000, though that would still be under the maximum capacity of 300,000, he said.
With the Chinese New Year holiday just days away, the mayor said he hoped the people of Shanghai will comply with the new restrictions on the use of fireworks.
“We hope that everyone cooperates and has a safe and happy Spring Festival.”
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