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Shanghai aiming for 6 per cent GDP growth in 2020, will bank on foreign investment and exports, mayor says

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Shanghai is aiming for 6 per cent growth this year, its mayor told the local legislature on Wednesday. The city, mainland China’s business hub, will tap foreign investment and bolster exports in 2020 following the signing of a phase one deal between Beijing and Washington.“We will allow high-end industries to play a leading role in driving the local economy, as we make efforts to sustain growth,” Ying Yong told the Shanghai People’s Congress, adding that the municipality would promote…

Source: South China Morning Post