The 33rd International Business Leaders’ Advisory Council for the Mayor of Shanghai (IBLAC) themed “New Development Pattern and Shanghai’s Leading Role in Reform and Opening Up” was held last night as scheduled.

Due to the COVID-19 pandemic, the council continued to be held via video as last year, but this did not hinder the close communication between Shanghai and the world. Many speakers began their speeches with “good morning”, “good afternoon” and “good evening”, which was a unique way to indicate that “they shared the moment together from far away”.

IBLAC is a move of special significance in the history of Shanghai’s reform and opening up. It provides a platform for the city to absorb much global experience and wisdom in an extremely fast manner and continue to show its changes and efforts to the world. In this process, Shanghai has made big strides towards the world, embraced the world and spoken its voice on the world stage, interpreting the special value of “opening up” to itself.

Against the background of complex and ever-changing international situation currently, setbacks in economic globalization, changes in global trade and investment rules, rising trade protectionism, and continuously evolving COVID-19 pandemic, there were still 15 world-renowned enterprises applying to attend the IBLAC this year, which was a new record in the past more than 30 years since the launch of the council. This fully reflects the confidence of insiders of the international economic circle in China’s new development pattern, development path, the Chinese market and the city of Shanghai. This will undoubtedly strengthen Shanghai’s determination to embrace and integrate with the world.

Opening up is an irreversible trend that requires to be deepened. In the new journey of higher-level reform and opening up, Shanghai has the responsibility to play the role of “leader”.

This kind of leadership should be increasingly deepening guidance. It’s necessary to bring together resources of production factors to a greater extent, and promote frequent flow, efficient allocation and high-speed appreciation of these resources. It’s important to continuously explore the opening of institutions, optimize the first-class business environment, open policies and systems with international competitiveness. It’s crucial to make further explorations in rules, regulations, management and standards to build Shanghai into an highland of overall opening up with a high energy level.

Shanghai’s biggest advantage is openness, which its character is deeply rooted in. Shanghai has always been striving to keep up with the world’s development with a global vision and perspective. It has enriched and demonstrated “governance of China” in its deep interaction with the world.

IBLAC once again shows Shanghai’s firm determination and pragmatic attitude to expand opening up and deepen international cooperation, which will become the foundation for creating new opportunities and opening new grounds under the new pattern.

(Author: Zhu Minwu, Shanghai Observer)