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Shanghai retains annual GDP growth of 8.8% in past five years

SHANGHAI'S annual economic growth remained 8.8 percent on average in the past five years despite of the impact of global financial crunch, acting Mayor Yang Xiong told the city's legislators this morning.

The city set its goal of gross domestic product at 7.5 percent this year, with both locals' disposable income rise and Consumer Price Index increase "in line with" the economic development.

"Shanghai sustained a steady and healthy economic development amid severe external impact and an internal economic restructuring in the past five years,"Yang said.

He also stated that city should strive for achievements in other issues like environment protection, public transport, caring for the aged, public health and education.

The remarks come as Yang delivers city government's annual work report at the first plenary session of 14th Shanghai People's Congress, which opens today.

Legislators will give a recap on the city's achievements in the past five years and map out the blueprint for the economic and urban development in the next five years during the week-long meeting session.

A new city government, including Mayor and vice Mayors will also be elected when the session closes on February 2.


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