Unlocking Shanghai's next wave: Capital, data and talent in flow
While MNCs like Roche bring in know-how, they also benefit from the know-how generated in the ecosystem driven by a lot of Chinese domestic companies. It is also one major reason that Roche announced in May to invest 2.04 billion yuan ($290 million) to build a biopharmaceutical production base in Shanghai, said Schwan, who has served as the IBLAC chairman for three years.
"If Shanghai can attract and retain the best people, channel vast savings into productive use, and lead in the practical application of AI, then it will not only secure its role as one of the world's great cities, but also become a place where China's next wave of growth begins," said Chip Kaye, chairman of private equity powerhouse Warburg Pincus.
As an annual event serving as an international think-tank for Shanghai mayors since 1989, this year's IBLAC is joined by six first-time attendants from the industries of semiconductor, finance, sports, and consumer goods, including South Korea's conglomerate SK Group, sports giant Nike, and leading iron ore company Vale from Brazil, among others.
Scheduled on Oct 11, 2026, next year's IBLAC will be themed on boosting the innovation-driven development of Shanghai's service industry. Rob Speyer, CEO of global real estate company Tishman Speyer, will serve as the chairman for next year's event.
