SHANGHAI, Jan. 13 (Xinhua) --Shanghai is hoping to score a nine percent increase in gross domestic product (GDP) this year, said Mayor Han Zheng Tuesday.
While delivering a work report to the annual meeting of the municipal people's congress that opened Tuesday, Han also set a six percent increase for revenue in 2009.
"Shanghai might have more difficulties in economic development this year, but 2009 might also be a year that presents major opportunities," said the Mayor.
The mayor said the global financial crisis seems to have no bottom and its adverse impact on the economy has worsened as it ripples across the globe.
But Han remains hopeful.
"The trend of economic globalization (unlike the financial crisis) will not be reversed, nor will the progress of the world's science and technology, or the trend for reorganization of international means of production or industrial transfers," he said.
Mayor Han also pledged to spend more on research and development and make efforts to keep the rate of urban registered unemployment around 4.5 percent.
Employment work should be given top priority, and 500,000 new jobs should be created this year, said Mayor Han.
To this end, a special program meant to stabilize employment will be introduced. Under this program, struggling businesses will be given extra subsidies for offering work posts and social insurance.
Mayor Han also told enterprises to perform social responsibilities by trying their best to keep work posts and make fewer layoffs.
"While spending on environmental protection will continue to be equal to three percent of the city's GDP, we will also work harder to bring down energy costs and ensure that disposable income for urban and rural families keeps growing," he said.
Last year was a hard year for Shanghai in terms of economic development, but the city managed to achieve an estimated GDP growth of 10 percent, and raked in 238.2 billion yuan in revenue, up 13.3 percent from a year ago, according to Han.
The consumer price index rose by 5.8 percent from that of 2007. Retail sales of consumer products rose by 17.9 percent. The city continued to see improvement in investment structure and achieved 17.7 percent increase in exports in the same year.
Per capita disposable income for urban and rural families were 26,690 yuan and 11,400 yuan last year, up 13 percent and 11 percent, respectively. The city offered 595,000 new jobs, and the rate of urban registered unemployment was 4.3 percent last year. (One U.S. dollars equals to 6.8 yuan)