Shanghai cuts GDP target, takes on new tasks

City to broaden free trade zone, set up registration system on stock exchange

Shanghai lowered its growth target for 2019 and took on the tasks of expanding its free trade zone, setting up a registration system and a new board on its stock exchange, and integrating with regional development.

The municipality projects its gross domestic product growth rate at 6 to 6.5 percent for the year, Mayor Ying Yong said in his government work report at the annual session of the ongoing Shanghai People's Congress on Sunday.