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Gross Domestic Product
Shanghai abandons city's GDP target as China's economy slows
Shanghai abandons city's GDP target as China's economy slows

Shanghai has become the first Chinese city to not set a target this year for growth of its gross domestic product as the country continues a major shift toward slower growth and more balanced economic expansion. GDP figures – at both city and provincial levels -- have been a key measurement for evaluating and promoting governmental officials. Some analysts and academics say this has led to catastrophic pollution, urban sprawl and social discord as ambitious officials push economic expansion by any means necessary. China’s economy skyrocketed after the country began opening up to the world three decades years ago and relaxing state control over the economy, but recently the...

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