SHANGHAI Mayor Yang Xiong met Gary D. Cohn, president and chief operating officer of Goldman Sachs, and his group last week.

Yang said Shanghai is building itself into an international financial center with support from the central government and is carrying out financial reforms and innovation in China (Shanghai) Pilot Free Trade Zone.

Shanghai will implement the 40 Measures of Financial Reform in the zone and welcomes foreign financial institutions, including Goldman Sachs, to participate in the city's transformation into an international financial center, the mayor said.