Beijing sets 8% GDP growth target this year

Beijing set its GDP growth rate goal at 8 percent for 2013, according to the Government Work Report delivered by Acting Mayor Wang Anshun at the ongoing session of the 14th Beijing Municipal People's Congress that opened on Jan 22.

The Municipal Commission of Development and Reform believes an increase of 8 percent is a feasible but demanding goal.

Beijing’s improved macroeconomic situation in the fourth quarter of last year brings positive economic momentum to the GDP goal. In addition, several colossal projects such as a new airport and extension of Zhongguancun Innovation Park render more promising opportunities.

The goal is demanding due to challenges concerning the sluggish world economy and a shortage of resources and energy in the capital.

Beijing has to accomplish four ecological tasks before realizing the set GDP growth rate. The municipal government must reduce energy consumption per unit of GDP by 2 percent, decrease carbon dioxide emissions by 2.5 percent, drop water consumption by 4 percent, and slash the density of major air pollutants by 2 percent.