Shanghai: The side event of the 38th International Business Leaders’ Advisory Council for the Mayor of Shanghai (IBLAC) meeting, themed “Innovation Meets in Yangpu, A New Chapter Begins for Fuxing Island”, was held on Shanghai’s Fuxing Island on Oct 10.
About 100 guests from around the world attended, touring development projects on the island and learning about the innovative achievements of Chinese companies in fields including artificial intelligence, manufacturing, culture and entertainment. “There was a good mixture of new digital technologies, developments in robotics and the craftsmanship of new brands,” said Jurgen Tinggren, chairman of Bekaert.
Several foreign business leaders and executives said they were deeply impressed by Fuxing Island’s development. Among them was Stefan Borgas, chief executive officer of RHI Magnesita, who first visited the island in 1991 and described the changes as “incredible”.
“Shanghai is one of the world’s global innovation centers and one of the best places to innovate. I think the mindset of the people is the biggest driver. There is also substantial funding, infrastructure and an ecosystem of companies working together to support innovation. But fundamentally, it is the Shanghainese mindset of being curious and wanting to do something new that drives this,” Borgas said.
The guests noted that Shanghai is promoting industrial upgrading and urban renewal while preserving its historical heritage, demonstrating the city’s openness, inclusiveness and vitality.
“I believe technology is the key, and affordable technology will be transformational for economic growth worldwide. Therefore, I believe working with China and in China will be very important for global innovation and growth,” said Arnd Franz, chief executive officer of MAHLE GmbH.
“I think Shanghai is an exemplary city. Its people always want to learn, understand what is happening in other parts of the world and explore ways to connect. I think that is very, very good,” Tinggren said.
The guests also looked ahead to the meeting on Oct 11, expressing expectations for in-depth discussions on service-sector innovation and the development of international companies in Shanghai.
“I’m interested in the automotive sector and the growth opportunities for companies with the ability to scale-up manufacturing,” Franz said.
IBLAC was founded in 1989, when 12 members from eight countries attended its inaugural meeting, providing suggestions for Shanghai’s development. It has since served as advisory body of global business leaders for the city’s development. One of its early contributions came in 1991 with the development of the Yangshan Deep-Water Port.
IBLAC has now expanded to 42 members, along with 11 honorary members. –The Daily Mail-China Daily news exchange item
