IBLAC members committed to development of Shanghai

International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC) is committed to providing a dedicated and valuable source of global intelligence, knowledge and practices to facilitate a higher level of openness, development and governance in Shanghai, according to a vision statement signed over the meeting of the 35th IBLAC held on Sunday.

The statement was signed by more than 30 multinational companies' executives attending the Sunday meeting, which was the first offline version since the pandemic swept the world in 2020.

"IBLAC believes in engaging constructive dialogues in response to a complex and ever-changing global environment for businesses to break boundaries, manage challenges and identify opportunities for a substantial growth with Shanghai," said the statement.

The IBLAC was initiated in 1989 and has grown into a think-tank for Shanghai mayors over time. Themed on "changes and new opportunities: making Shanghai a more robust and resilient international metropolis", the 35th IBLAC solicited suggestions and ideas from nearly 40 companies' executives, scholars and industry experts who were present at the Sunday meeting.

While Shanghai faces multiple challenges at present, the major trend of its high-quality development remains unchanged, Shanghai's Mayor Gong Zheng said over the press conference of the 35th IBLAC on Sunday.

Ever since Shanghai rolled out  the first version of the reform plan in late 2017 for optimizing business environments, the plan has moved into its sixth edition in January, rolling out a total of 951 measures over time. Foreign companies have prospered upon these measures, said Gong.

Shanghai will refer to the World Bank's new evaluation system for business environments, which was introduced in May, to come up with more major reform measures.