Shanghai abandons growth target in 2015

Shanghai Mayor Yang Xiong announced on Sunday that the municipality would abolish its annual economic growth target, Reuters reported, citing state media. The city government had not provided a target for growth in an annual report but said Shanghai would maintain a steady expansion and aim for greater efficiency. “We are not too concerned about GDP,” Yang said at the opening of the city’s legislative session, adding that the government would pay more attention to developing a pilot free-trade zone and to economic and social reforms, according to a state radio report.