Shanghai's gross domestic product (GDP) last year exceeded 1 trillion yuan for the first time, said an official with the municipal government on Thursday.

Pan Jianxin, director of the municipal statistics bureau, says Shanghai's GDP was 1.03 trillion yuan (about 128.8 billion U.S. dollars) in 2006, 12 percent higher than the previous year.

The per capita income of the megacity's permanent urban residents was more than 7,000 U.S. dollars in 2006, almost four times that of the national average, which was less than 1,800 U.S. dollars.

Shanghai has set a target of per capita GDP of permanent urban residents of 10,000 U.S. dollars by 2010.

Finance officials say Shanghai's GDP has maintained double-digit growth for the past 15 years.

Source: Xinhua