City sets lower growth target

SHANGHAI: Shanghai has set its economic growth target this year at about 9 percent, the lowest in 15 years, to aim for more balanced and sustainable economic and social development, Mayor Han Zheng said yesterday.

The eastern metropolis has maintained double-digit growth for 15 years. Last year, its GDP totaled 1.03 trillion yuan ($132 billion), up 12 percent from 2005.

The city needs to reduce energy consumption and safeguard the environment in its pursuit of economic development; and seek a balance between man and nature, Han said in his government work report.