(Xinhua)
Updated: 2008-01-24 16:36

SHANGHAI - Shanghai, the financial hub of China, aims to increase its gross domestic product (GDP) to 2 trillion yuan (US$276 billion) by 2012, Mayor Han Zheng said on Thursday.

Han made the remarks while delivering a government work report at the first annual session of the municipal People's Congress, the legislature of Shanghai.

The city's 2007 estimated GDP was 1.2 trillion yuan. On a per-capita basis, that was 65,000 yuan, a figure that is projected to rise to 100,000 yuan by 2012.

Han said that Shanghai's growth would be based on optimizing the city's economic structure and increasing its efficiency, rather than sacrificing the environment. "Spending on environmental protection will be maintained at three percent of GDP," he said.

The mayor also said that Shanghai would consolidate its status as one of the world's financial and logistics centers, as well as the heart of China's import-export trade.