Beijing — Beijing’s municipal government said on Wednesday that it would keep its 2018 economic growth target at about 6.5%, on par with the objective that Shanghai has set for itself this year. The targets for the two wealthy mega-cities are in line with the national goal, which policy sources previously told Reuters will be kept steady at about 6.5% as the central government shifts its focus to quality from high growth. Premier Li Keqiang said this week that the "three tough battles" for China’s economy are reducing poverty, controlling pollution and curtailing risks. Shanghai and Beijing, which are not part of any province, together accounted for 7% of the national gross domestic product (GDP) last year. The two cities are often magnets for both government and private investors, and in recent years, property speculators. While Shanghai remains synonymous with profit-driven entrepreneurship, Beijing is developing a reputation as a hub for technology start-ups. Shanghai’s economy g...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now