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Shanghai, China's financial and industrial center, aims at reaching a per capita gross domestic product (GDP) of 7,500 US dollars in 2007.
Mayor Chen Liangyu pledged Sunday to make the city an international metropolis by updating the industrial makeup, infrastructure and social system.
Chen reported the government work to the first session of the 12th municipal people's congress held Sunday to draw a blueprint on the economic and social development of Shanghai in the next five years.
The city reported a per capita GDP of 4,909 US dollars in 2002 and the annual growth of GDP reached 10.4 percent in the past five years.
Each urban resident had an annual average disposable income of 13,250 yuan (about 1,602 US dollars) last year while each rural resident had 6,212 yuan (about 750 US dollars).
Chen listed 10 previous sectors in the development of the city, including building up new industries, introducing advanced information technologies, improving the environment and developing the suburbs.
The city plans to build a modern logistics industry while making itself an international financial center. It will place the service sector in the downtown and locate electronics, chemistry, steel and auto manufacturing in the suburbs.
The service sector, including finance, trade, tourism, exhibitions and information industry, has contributed to 51 percent of the city's total GDP.
Shanghai will encourage local enterprises to join hands with foreign counterparts to develop the overseas market, Chen said.
The city has introduced foreign direct investment of 34.29 billion US dollars in the past five years.
Chen also expected the urban population of Shanghai to account for 80 percent of the total in five years.
(Xinhua News Agency February 17, 2003)
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