BEIJING (Reuters) - Beijing's municipal government said on Wednesday that it will keep its 2018 economic growth target at around 6.5 percent, 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 around 6.5 percent 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 percent of the national gross domestic product (GDP) last year. Each has a population of more than 20 million.
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 technological start-ups.
Shanghai's economy grew 6.9 percent last year to 3 trillion yuan ($469 billion), with services accounting for 69 percent of its economy. Beijing expanded 6.7 percent to 2.8 trillion yuan, with its high tech and strategic new industries surging more than 10 percent.
China's overall GDP grew 6.9 percent to 82.71 trillion yuan in value terms.
($1 = 6.3930 Chinese yuan)