LEADING global executives gathered in Shanghai to attend the International Business Leaders’ Advisory Council (IBLAC), and they believe it serves as an effective channel for discussion over various topics such as the city’s development blueprint and business environment.

The annual meeting, founded in 1989, has grown into a valuable think tank. This year’s council meeting was held on October 12 under the theme of “Open, Innovation and Inclusiveness – Shanghai’s Development Strategy Toward 2030.”

Maersk

North Asia Chief Representative of A.P. Moller-Maersk Jens Eskelund believes this year’s theme makes a lot of sense, as they are important elements for Shanghai in its push to become a true international center.

Danish shipping and logistics service provider Maersk has been responding to changing demands for transportation in the local market and has put forward suggestions for the city to strengthen its position as an international hub for global commerce.

“IBLAC has proven to be quite effective for multinationals to engage in dialogue with the municipal government and some of the recommendations that we have made have been implemented in the past few years,” he noted.

“As China prepares to draft a new five-year plan, I think it’s very encouraging to see that themes like openness, innovation, and inclusiveness are being discussed, and we hope that these particular themes might also be able to provide some inspiration for future development,” Eskelund said in an interview in Shanghai.

Shanghai has remained the world’s largest port for 15 consecutive years and Maersk has been the largest international user of the port.

“Shanghai is an absolute key port in our global network, and I’ve been impressed with the level of automation at the Yangshan deepwater port.”

Maersk is also preparing for a new flagship warehouse facility in the Lingang Special Area, which will be unveiled soon, and is looking forward to the state-of-the-art center to further facilitate Shanghai’s foreign trade.

“We see a high degree of synergy between our expertise and Chinese clients’ capabilities, such as our complete project management capabilities and swift adaptation to changing requirements while Chinese companies are establishing their own facilities overseas,” he added.

“We are also learning and picking up best practices in China that we might be able to leverage on a global scale.”

In the future, Eskelund also said Shanghai can benchmark Singapore in terms of shipping auxiliary services such as shipping finance or insurance.

DBS

Likewise, as a long-term participant of the annual meeting, DBS is honored to act as a strategic advisor for Shanghai to build a bridge with overseas markets and keep promoting cross-border connectivity.

During this year’s IBLAC session, the group emphasized two crucial pillars: responsible artificial intelligence (AI) and technology, and green technologies and Green AI.

It has proposed fostering collaboration to ensure safe AI deployment through robust governance frameworks and testing tools, particularly for Large Language Models. “We see opportunities for Shanghai to take a leading role in driving international cooperation on AI governance, leveraging China’s open-source strengths to define global standards and set up new institutions focused on using AI to build solutions that serve the public interest,” said Tan Su Shan, chief executive officer of DBS Group.

“Shanghai is widely recognized as a leader in both technology and sustainable development, and this has inspired us to focus our recommendations to IBLAC this year on responsible AI and technology, as well as green technologies and Green AI.”

As a leading Asian financial services group, Singapore’s DBS places great strategic importance on China and especially Shanghai.

“China is a key driver of economic growth in Asia and globally, with Shanghai undoubtedly leading the charge and playing a pivotal role in the nation’s economic progress and development,” she added.

With its China headquarters located in Shanghai, and about half of its Chinese employees based in the city, half of its China revenue is also generated locally.

“I am committed to contributing my insights and efforts to foster greater connectivity and collaborative exchanges between Shanghai and Singapore. DBS will continue to fully support Shanghai’s endeavors to build an international financial center, offering our long-term advice and recommendations through international exchange platforms such as IBLAC,” Tan observed.

“We will also leverage our extensive Asian network and expertise and continue to act as both a ‘strategic advisor’ and a ‘financial bridge’, assisting Shanghai in further exploring its ‘Shanghai Solution’ for transitioning finance and becoming a leading force in global green transformation.”

AB InBev

AB InBev stressed the importance and the relevance of the nightlife economy of the city at this year’s meeting.

“We believe that investing in cultural events, investing in retailers and catering, food and beverage is a very relevant part of a thriving nightlife economy,” AB InBev Chief Executive Officer Michel Doukeris said.

“Shanghai is naturally a tourist city which is very well organized with good Infrastructure.”

The city is always in the process of transforming itself, and AB InBev is bringing to the spotlight the ability to attract big events, cultural events, sports events, music events and transform Shanghai into a tourist destination for people to come to visit and to get to know China, he noted.

In Shanghai, close to 50 percent of the total consumption happens after 6pm, according to Doukeris, and he said the Belgian brewing company continues to leverage its strength to contribute to the development of the night time economy in Shanghai and across China.

AB InBev is bringing its large scale electronic music event Tomorrowland to the city to make its debut this November, with a one-night immersive experience slated for Shanghai’s HERO DOME.

“That will attract more and more tourists to the city, and can make Shanghai an even bigger destination for people that want to travel from domestic and overseas areas,” Doukeris noted.

“China is the largest country for our business in Asia, a very important place for us to develop our business and to cultivate talent. With a long history and heritage of investing on innovation and high quality products, we’re committed to staying close to the Chinese consumers, retailers and wholesalers.”