SHANGHAI’S economic slowdown is not putting pressure on the city, Mayor Yang Xiong said yesterday. It will continue to accelerate industrial upgrading, optimize trade and develop strategic new industries.

During a 90-minute press conference at the conclusion of the five-day annual session of the city legislature, the Shanghai People’s Congress, Yang answered questions raised by reporters from home and abroad on issues including economic growth, the pilot free trade zone, financial reform, scientific and technological innovation, the housing market, Disneyland and medical services.

“Shanghai has entered a period of mid-level economic growth for more than five years, which makes us among the first to enter the state of new normal as we now call it,” Yang said. “But the city is not under pressure, because the speed of growth remains decent, with a much better industrial structure, stable employment and growing fiscal revenue.”