During the first international forum on the development of the Yangtze River delta area held on December 1, top leaders from Shanghai, Jiangsu and Zhejiang agreed upon a goal of building an urban agglomeration with strong innovation capacity and sharp competitive edges in the Yangtze River delta area. The goal especially emphasizes the construction of a financial city circle inside this area. This step is viewed as a breakthrough toward balancing Shanghai's financial development with its neighboring provinces.

Additionally, on the previous day, senior leaders from Shanghai, Jiangsu and Zhejiang signed an agreement with the deputy governor of the People's Bank of China to promote the financial development of the Yangtze River delta area. This marked the official launch of the financial integration of the area.   

For more details, please read the full story in Chinese. (http://www.caijing.com.cn/home/todayspec/2007-12-02/39957.shtml)

(China.org.cn December 3, 2007)