(Yicai Global) Jan. 28 -- Shanghai aims to grow its gross domestic product between 6 percent and 6.5 percent this year, with the local general public budget to rise 5 percent.

The eastern Chinese megalopolis will further stabilize the surveyed and registered urban unemployment rate at 4.3 percent, Shanghai mayor Ying Yong said in the city's latest government work report yesterday.

Ying released the report at the opening of the second session of the 15th Shanghai People's Congress. Per-capita disposable income will log synchronized growth with the city's GDP, with the rise in the consumer price index broadly in line with national targets, the report predicted, adding that spending on research and development will make up about 4 percent of GDP. 

Shanghai also aims to further lower energy consumption and pollution discharge per unit of GDP, per the report.

The city's important missions this year are setting up more areas in the China (Shanghai) Pilot Free Trade Zone, advancing the Shanghai Stock Exchange's set up of its science and technology board to promote startups in the sector and experimenting with a registration system for it, promoting the construction of a demonstration area for the integrated development of the Yangtze River Delta and making the second China International Import Expo a success.

Shanghai will also up its efforts to cut taxes and reduce costs and ease the burden on companies. It will improve the business environment by raising the proportion of weighted pre-tax deductions for research and development expenses, advance reform of the system of evaluation, review and approval of drugs and medical devices and further streamline the procedures for cancellation of business registrations. 

Municipal GDP increased by 6.6 percent last year, which is in line with the national level, the report shows, adding per capita disposable income of residents rose 7.1 percent after deducting price factors. 

The city created 582,000 new jobs last year, with spending on R&D and environmental protection making up about 4 percent and 3 percent of GDP last year.

Editor: Ben Armour