Last year, Shanghai’s GDP growth rate reached 7%. Although this figure is impressive according to European standards, it is lower than the national rate of 7.4%
This year, the Shanghai government has decided not to set a growth target. It is the first Chinese city to abandon GDP growth forecasts. The objective of this policy is to switch from growth at all costs to sustainable and innovative development.
More information to be find at: Wildau, G. (2015). Shanghai first major Chinese region to ditch GDP growth target. January 26, 2015, The Financial Times. Retrieved February 14, 2015 from http://www.ft.com/cms/s/0/2c822efc-a51d-11e4-bf11-00144feab7de.html#axzz3Ro8Q8zl9.