yes, they are one in the same (essentially).

edited to add: maybe he was thinking of peoples square, which the sh government is trying hard to make the "center" of town. personally, i rarely venture east of xintiandi. the gridlock and poor food options near the bund intimidate me, though i will admit that bar rouge can be fun. i always advise people to stay in the jing'an area and make bund trips as needed, not the other way around (though the popularity of the westin suggests that many people disagree)