In­ter­net-based tech one of the keys to Shang­hai’s fu­ture

China Daily (Canada) - - SHANGHAI - By WU YIYAO in Shang­hai

wuyiyao@chi­nadaily.com.cn

Shang­hai’s de­vel­op­ment into a global city of ex­cel­lence will rely on a greater em­pha­sis on soft power and lever­ag­ing re­sources from fast-de­vel­op­ing In­ter­net-based ser­vices, said the city mayor Yang Xiong.

Yang made the re­mark dur­ing the 28th In­ter­na­tional Busi­ness Lead­ers’ Ad­vi­sory Coun­cil (IBLAC) last week­end. More than 500 del­e­gates from For­tune 500 com­pa­nies were in at­ten­dance at the event and they dis­cussed a va­ri­ety of top­ics per­tain­ing to how the city can ben­e­fit and de­velop In­ter­net-based ser­vices and in­dus­tries.

In the re­port that Yang de­liv­ered on the morn­ing of Nov 6, he said that Shang­hai’s In­ter­net-based ser­vices will not only ben­e­fit eco­nomic growth but help res­i­dents to el­e­vate liv­ing stan­dards as well.

Ac­cord­ing to Yang, in­for­ma­tion and com­put­ing tech­nolo­gies in­dus­tries in Shang­hai con­trib­uted some 7 per­cent to man­age­ment, ed­u­ca­tion and med­i­cal ser­vices at lower costs.

The IBLAC forum was founded in 1989 by for­mer Shang­hai mayor Zhu Rongji, who be­came Chi­nese pre­mier in 1998. He en­vis­aged the forum as a plat­form for the world’s top busi­ness lead­ers to pro­vide strate­gic ad­vice on the city’s de­vel­op­ment and the chal­lenges it faces.

Over the past 27 years, the in­ter­na­tional think tank has grown from 12 mem­bers in eight coun­tries to more than 50 mem­bers in over 15 coun­tries. Its par­tic­i­pants come from all fields of in­dus­try and com­merce, in­clud­ing fi­nance, man­u­fac­tur­ing, in­for­ma­tion tech­nol­ogy, phar­ma­ceu­ti­cals and re­tail. The event is also a plat­form for the city’s mayor to gain in­sights from a host of mar­ket watch­ers and busi­ness lead­ers.

Kevin Kelly, ed­i­tor of Amer­i­can mag­a­zine Wire and the key­note speaker at IBLAC, said that Shang­hai will need to find its unique po­si­tion in the world and fo­cus on long-term de­vel­op­ment that goes be­yond in­dus­trial and com­mer­cial progress in its quest to be­come a global city of ex­cel­lence.

Martin Sor­rell, chief ex­ec­u­tive of me­dia ser­vices firm WPP and chair­man of this year’s coun­cil, added that Shang­hai will need a united agenda that can syn­er­gize all lev­els of gov­ern­ment, pub­lic and pri­vate sec­tors, as well as aca­demic and civil so­ci­eties so as to pre­pare the city for a fu­ture that is geared to­ward In­ter­net-based tech­nolo­gies.

Mark Wein­berger, the global chair­man and CEO of EY, was elected as the chair for the next edi­tion of IBLAC. Wein­berg, who was tak­ing over from Sor­rell as the chair, said that he will seek new mem­bers to bring more per­spec­tives and ideas to IBLAC and will push for­ward im­ple­men­ta­tions of good ideas from mem­bers. He noted that while IBLAC’s mech­a­nisms might change un­der his charge, open and frank com­mu­ni­ca­tions will nev­er­the­less re­main as one of the core ob­jec­tives of the plat­form.

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