SHANGHAI - With the 2012 Diamond League Shanghai meet having raised the curtain on Saturday, the local organizers are close to renew the three-year contract to keep the world top level tournament in Shanghai.

"The authorities of Shanghai are looking forward to renew the contract because the event has been very successful and they said the athletics in the big stadium with top athletes is a must," said Essar Gabriel, general secretary of IAAF, the international governing body for track and field here on Saturday.

The Shanghai meet was included in the calendar of Diamond League in 2010 and since then the city in eastern China has staged two successful athletics gala in the 80,000-seat Shanghai Stadium.

According to the local organizers, the organizing committee is discussing with IAAF, Diamond League AD, the International Athletics Management Inc about the contract renewal of the Shanghai meeting and the relevant parties have basically reached a consensus on the future of the event. Shanghai is very likely to continue to host the IAAF Diamond League Shanghai competition till 2015.

"I've been very impressed by the support of the authorities of shanghai. The municipality is really behind this event. They are very satisfied with the event. There has been a very good progression in the past two years, for example on the number of the spectators and I think this year it will probably break the record of the Samsung diamond league meets," said Gabriel who used to work as the head of the inaugural Youth Olympic Games in Singapore last year as well as the director general of the world athletics championships in Paris in 2003.

"I met Liu Xiang for the first time in Istanbul. He comes through as a true champion. He is a champion on the track and also a great champion off the track," said Gabriel. "His personality, his openness is really something which strikes me."

"He is on the quest after what happen in 2008, which is terrible disappointment for him and for all his supporters. After a great result in Istanbul, the IAAF world indoor championships, he has the second best time of the year and I think he is on track to produce a successful season this year," said the Frenchman.

"We can only look forward to him competing in London with excitement," Gabriel added.