Shanghai to rebound from woes
( 2003-08-07 08:11) (China Daily)
The sluggish world economy accompanying increasing world trade protectionism,
the ripple effect of SARS and the greater tension on employment are the three
main problems facing Shanghai in the latter half of this year, Mayor Han Zheng
told the 12th Municipal People's Congress Wednesday.
48-year-old Shanghai Mayor Han
Zheng. [newsphoto.com.cn] |
Yet despite all the difficulties, the city's original target of a
double-digit increase in GDP by year's end hasn't changed.
In the first six months, the city's GDP increased by 11.4 per cent over the
same period last year, thanks mainly to rapid growth in the industrial sector.
"And for the latter half of this year, the focus of the work will still be on
the economy,'' Han said.
"The strategy of rejuvenating the city through high technology should be
taken as the guiding principal of the economic work.''
To improve the city's business environment, Shanghai will cut more
administrative approvals in the remaining six months.
Although in the past three years, the city has already reduced some 40 per
cent of the administrative approvals, many of them are insignificant and don't
involve charging fees.
But this time, the city has determined to drop the hammer on those red taps
which have economic links with certain government sectors and will more
effectively curb government powers entering the market.
During the meeting, Han also answered several issues which concerned the
Congress deputies.
The city's employment tension was the first item on the list.
Although Shanghai has managed to add 265,000 new jobs in the first half of
this year. Yet staff reductions have caused over 200,000 people to lose their
jobs during the same period.
Besides, with universities expanding their enrollment, this year the city
will have 28 per cent more university graduates over last year, while the
increase in jobs offered in the labour market is only 5.5 per cent.
The registered jobless rate by the end of June is 4.85 per cent, up 0.05 per
cent from last year's end. It has caused difficulties as Shanghai to achieve the
original target the city set for controlling the urban registered unemployment
rate within 5 per cent.
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