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May 19, 2012

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Improving economy, legal system, people's lives listed as major goals

STEADY economic growth, bettering people's livelihoods and growing wealth, improving the legal system, and better management of Party affairs are among the goals that the CPC Shanghai Committee set for the next five years.

In a report delivered yesterday at the opening ceremony of the 10th Congress of the Communist Party of China Shanghai Committee, Shanghai Party Secretary Yu Zhengsheng said the city is standing at a critical point in pushing forward economic restructuring.

"The next five years will be crucial," Yu said. "We should stick to the principle of innovation-driven growth and continue to accelerate economic restructuring."

Quantifying the targets

Targets include breakthroughs in revamping the economic structure. For example, output of the service industry should constitute more than 65 percent in the city's total gross domestic product by 2016, up from 57.9 percent last year. Spending on research and development should reach 3.3 percent of the city's GDP value to encourage innovation, compared with the current 2.9 percent. And energy consumption and the emission of pollutants should continue to lower on the standards set for the 12th Five-Year Plan (2011-2015) period, the report said.

Also, Shanghai should sharply limit the unemployment rate and keep consumer prices largely stable. People's income should rise steadily and disposable income of residents should grow faster than economic growth.

Gross domestic product per capita should reach US$20,000 by 2016, and the income gap between rich and poor should be narrowed further.

The Party will enhance the leadership by managing its affairs scientifically - paying more attention to the training of cadres, forging closer relationship between Party members and ordinary people, and strengthening supervision to prevent corruption.

"Opening up and reform will power ahead Shanghai's economic restructuring," Yu said. "We should keep attracting professionals into the Party, continue to perfect the leadership and keep our members highly disciplined."

In the past five years, Shanghai has made substantial progress in economic restructuring. The city posted an average 10.3 percent GDP growth in the five years to 2011, fueling a 16.5 percent annual rise in local fiscal revenue.

Growth of the service industry outpaced that of manufacturing last year, while the contribution of the real estate industry to the city's gross domestic product dropped to 5.3 percent, compared with 7.3 percent in 2006.

Shanghai has developed one of the world's most sophisticated financial markets and stepped up efforts to forge an international shipping center with innovative products and services.

The congress will elect the 10th Shanghai Committee of the Communist Party of China in the next few days and reshuffle its discipline inspection committee.


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