Shanghai sets growth target, key undertakings for 2024

Intl trade center role to be bolstered, Pudong to be further developed

Shanghai's GDP is expected to grow by about 5 percent this year after reaching 4.72 trillion yuan ($660 billion) in 2023, Gong Zheng, mayor of Shanghai, said on Tuesday.

The growth of residents' per capita disposable income will keep pace with economic growth, with the increase in consumer prices projected at about 3 percent, Gong said while delivering the Shanghai government work report at the annual session of the Shanghai People's Congress, the city's legislative body.

"Shanghai aims to accelerate the pace of building itself into an international trade center this year. It will actively participate in the high-quality development of the Belt and Road Initiative and the construction of a pilot zone for Silk Road e-commerce cooperation, while enhancing the international development capabilities of local service institutions in fields such as accounting and law," said Gong.