Echo Hu/ Shanghai Daily news

Xi Jinping, the secretary of the CPC Shanghai Committee, said Shanghai is at an important stage of development and it was certain that the city was heading into a better future. Xi made the remark when meeting a delegation from Goldman Sachs Group, Inc., one of the biggest investment banks in the United States.

Shanghai still has a lot of work to do on a series of issues like how to boost the development of the Yangtze Delta Region and integrate its financial resources to build itself into an international financial center, Xi said during the meeting, adding that Shanghai faces both opportunity and challenge.

He also expressed his hope that Goldman Sachs would further strengthen its cooperation with the city and make suggestions to help the city's financial development.

His guests replied that Shanghai's development in recent years had been impressive and Goldman Sachs was ready to strengthen its cooperation with Shanghai. They believed that Shanghai was well on its way to becoming an international financial center in the very near future.

The US-based Goldman Sachs is a well-known international investment bank which deals with several businesses such as stock exchanges and investment management. It is listed at No.167 in Global top 500 businesses.