Shanghai should strategically leverage professional services to strengthen global resource allocation amid a rapidly transforming world, Shui On Group Chairman Vincent Hong Sui Lo suggested on Oct 12 during a panel discussion at the 37th International Business Leaders' Advisory Council for the Mayor of Shanghai.

Lo emphasized the need for Shanghai to approach its vision of becoming the "Five Centers" with "a sharper strategic foresight and a broader global perspective" as global trade and industrial chains undergo restructuring.

His recommendations focused on enhancing Shanghai's role in global resource allocation, financial collaboration, regional development, and talent attraction.

A key proposal was for Shanghai to cultivate international legal and professional service centers, alongside an international supply chain hub for the Yangtze River Delta. This initiative, Lo explained, should align with "the high-quality advancement of the Belt and Road Initiative and open a new chapter for regional integration."

Lo also advocated for a collaborative relationship with Hong Kong, positioning both cities as dual international financial centers. He suggested Shanghai support the financing and listing of economically viable Belt and Road projects on the Shanghai Stock Exchange.

Further strengthening the Hongqiao International Central Business District is crucial, according to Lo, positioning it as "the primary launchpad for YRD enterprises to go global and as a world-class gateway and exhibition platform". He also called for expanding strategic air routes to ASEAN countries to enhance economic and trade connectivity.

To attract top global talent, Lo urged Shanghai to embrace greater openness, capitalizing on the trend of Chinese scientists and professionals returning home.

He noted the importance of providing diverse application opportunities and fostering vibrant communities, saying that "by focusing on people's needs, the city can foster vibrant and multidimensional communities that attract versatile and diverse talent from around the world."

Lo expressed confidence in Shanghai's ability to capitalize on the current strategic window of opportunity. He believes this approach will "infuse new substance and vitality into the next phase of building the 'Five Centers', and forging new competitive advantages on the global stage."