Shanghai Party Secretary Yu Zhengsheng (left) joins a
group discussion on Monday during a three-day session of the Shanghai Committee
of the Communist Party of China. - Shanghai Daily
Dong Zhen/Shanghai Daily news
Shanghai's Party chief urged local government officials yesterday to break
boundaries and take bolder steps to help the city maintain steady economic
growth amid the global financial turmoil.
Party Secretary Yu Zhengsheng,
addressing the Shanghai Municipal Committee of the Communist Party of China at
the end of a three-day session, told the officials they must work with great
efficiency and creativity to tackle the mounting economic challenges.
should dare to take responsibility, dare to innovate," Yu said.
told those attending the session that the city will focus on four main targets
next year: achieving steady growth, improving the livelihoods of local
residents, ensuring social stability and maintaining smooth progress in
infrastructure construction and other preparations for the 2010 World Expo.
Tax incentives and other fiscal stimulus measures will be among the main
weapons used to propel the economy to support the needs of local residents and
boost employment, he said.
Speaking at the same meeting, Mayor Han Zheng
said the key task is to foster the development of local businesses using all
He said city government is ready to do whatever it takes
to help companies survive the financial crisis even if it results in lower
The government will likely implement temporary policies
next year to allow deferred payment of business taxes for companies that have
suffered from the funding squeeze brought on by the crisis, officials
The meeting participants did not release a forecast for Shanghai's
2009 economic growth or provide details on the coming stimulus plan. Shanghai's
economy grew 10.1 percent year on year in the first three quarters, well off the
13.3 percent pace for all of 2007.
Officials also said the city will
continue to make bigger investments next year in major infrastructure projects
to further improve the quality of life for local residents as well as to boost
The downtown Jing'an District, for example, has used
700 million yuan in fiscal income this year to establish a fund that will help
district-based companies develop innovative and high-tech projects, district
Governor Zhang Renliang told Shanghai Daily.
The first batch of nearly
20 state-owned companies will receive a development subsidy from the fund this
City officials said college students and farmers will receive more
attention as the government maps out plans to improve employment opportunities
for those groups next year.
A record 150,000 fresh graduates will leave
city colleges in 2009, which will add further pressure to the tightening labor