BEIJING, Dec. 30 -- Beijing set its Gross Domestic Product (GDP) growth target for 2014 at around 7.5 percent at the Third Plenary Session of the Eleventh CPC Beijing Municipal Committee held from Dec. 22 to 23, 2013, Beijing Daily reported.

The growth rate is slightly lower than that of 2013 because Beijing aims to promote structural adjustments and prevent risk.

To ensure that the residents benefit from social and economic development, Beijing will increase incomes of both urban and rural households by 7.5 percent.

As in 2013, the local public budgetary financial revenue will grow by 9 percent.

These economic targets will be deliberated at the annual session of the Municipal People's Congress, the city's top legislature, in early 2014.