Shanghai Mayor Han Zheng met with a delegation led by the CEO of the Chubb Group of Insurance Companies, U.S.A, on March 16.

Han warmly welcomed the guests, and described for them the city's development targets for its economy. According to the 11th five-year plan developed recently by the government, Shanghai is to become an international financial center in the next five years by fully developing of the city's industries of banking, insurance, securities and futures.

Han emphasized his belief in the prosperous future of the Chubb Group in Shanghai.

The CEO of the Chubb Group was grateful for Mayor Han Zheng's reception and congratulated him on the enormous progress the city has made in the previous years. He said the improved supervision of the city's insurance industry has attracted the Group to establish a branch office here to further promote business in China.

Li Xiaolin, vice chairperson from the Chinese People's Association for Friendship with Foreign Countries, was present at the meeting.