Ryan Lochte broke his own world record with a time of 1:54.00 in the men's 200m individual medley final at the 14th FINA World Championships in Shanghai Thursday.

Ryan Lochte broke his own world record in the men's 200m individual medley. [Sina.com]

Lochte edged Michael Phelps for gold, setting the first world record since high-tech bodysuits were banned at the start of last year.

"I mean I want to do something that everyone thought I wasn't possible. Everyone thought the world record that never could be touched again. I just want to show everyone that that can happen," Lochte said.

When someone asked him about Phelps, he said, "I can't really comment that too much this year. If he said he was ready, he was ready. I know that he wasn't happy losing. We both like to win."

Phelps, the sliver medalist, clocked 1:54.16. Though failing to beat the arch rival, Phelps bettered his winning time at the Beijing Olympics.

"I'm a little disappointed but at the same time it's faster than I went in 2008 at the Olympics, so that's a good thing. That one frustrated me more than anything. I thought I was going to get that one but it is what it is," said he.

The 19-year-old Chinese Jiao Liuyang stormed to victory in the women's 200m butterfly final. Ellen Gandy from Britain took the silver. The bronze went to fellow Chinese Liu Zige, the world record holder.

In the men's 100m freestyle final, Australia's James Magnussen clocked 47.63 to touch home first, 0.32 seconds faster than Brent Hayden from Canada. The bronze went to William Meynard of France.

In the women's 50m back final, Russian Anastasia Zueva won the gold medal. Aya Terakawa of Japan got the silver and Missy Franklin from the United States took the bronze.

The last competition of the day was women's 4X200m freestyle relay final. Chinese quartet, supported by the thunderous cheers from the home crowds, failed to defend the title and took the bronze. The gold medal was grabbed by the United States. Australia got the silver.

"We gave all out in the final and felt exhausted so it's hard for us to smile. As for me, I don't feel frustrated. It's the third time I took part in the worlds but it's first time for me to win a medal so I'm happy," a member of Chinese team Tang Yi said.

"As the defending champions we just got a bronze medal, but I'm still satisfied with all of us especially Tang Yi, who pulled out a great performance with unhealthy conditions," another swimmer Pang Jiaying said.

"I think the placing is no big deal, the process of improving, instead, is of great importance to us. We will stay focused on the London Games," she added.