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Shanghai Strives for Over-all Development
The local government will strive to achieve over-all social development to improve the city's competitiveness, according to Shanghai's newly approved 10th Five-Year Plan (for 2001-2005).
Shanghai has progressed from a moderately developed city into a developed one when its per capita gross domestic product (GDP) surpassed US$4,000 in 2000.
It is time for Shanghai to shift its development focus from industries to all-round development, said Mayor Xu Kuangdi.
According to the new plan, Shanghai will continue its economic reforms and further adjust its industrial structure.
The economy will maintain its rapid annual growth rate of 9 to 11 per cent in each of the next five years. Its GDP will have grown to 730 billion yuan (US$88.06 billion) by 2005.
Shanghai will keep its position as China's financial centre and become an international economic and trade centre.
The city will step up its development of the stock, foreign insurance and other finance-related markets. The framework of a re-insurance market will also be built, according to the plan.
The annual growth rate of the financial industry will top 15 per cent in the next five years.
The development of a modern information industry is at the top of the city's agenda. The revenue from this sector will grow rapidly and account for 13 per cent of the city's GDP in 2005.
The Internet will be used by 50 per cent of the Shanghai population within the next five years.
Shanghai also aims to develop its shipping industry. By the year 2005, the volume of imports and exports passing through local ports is expected to be worth US$180 billion.
Besides concentrating on economic development, Shanghai will improve its environment and make it a better place to live.
The local government will invest more than 3 per cent of the city's GDP on environmental protection.
The proportion of vegetation area will top 30 per cent of the total city area, giving every citizen more than seven square metres of green space.
According to the plan, the resident population will be limited to within 16 million by 2005.
The local government will invest more in scientific research and innovations. The amount of money going into this sector will account for 2.2 to 2.5 per cent of the city's total GDP in 2005.
According to the blueprint, the education system will be upgraded, guaranteeing citizens life-long education.
The local government will improve its own management and create an environment of law an order.
The unemployment rate will be limited to within 4.5 per cent by the end of 2005, and the social security system will be expanded to cover more citizens.
Source: China Daily
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