China’s financial powerhouse Shanghai aims for 5% growth, ‘global influence’

2026-02-03 - 09:08

China’s economic locomotive Shanghai is aiming for a growth rate of around 5 per cent this year, after gradually rebounding since 2023 and reaching a better-than-expected 5.4 per cent growth last year. The megacity, whose economic size is comparable to that of Belgium with last year’s GDP totalling 5.67 trillion yuan (US$816.2 billion), is upgrading its role as a global financial, trade and shipping centre, Mayor Gong Zheng told the city’s annual plenary sessions on Tuesday. The government is...