Edited by Zhong Youyang. Reported by Wang Yanlin.

Shriti Vadera, Chair of Prudential Plc, shares her vision of Shanghai by 2035.

She said: "I am honored to once again be attending the Mayor of Shanghai's International Business Leaders' Advisory Council. IBLAC continues to be an important forum for cooperation between business leaders and policy makers, in Shanghai and from around the world. This year's focus on harnessing innovation across sectors matters not only for Shanghai's economic prosperity, but also for the contribution Shanghai can make to China and the world's pursuit of high-quality, sustainable growth and development.

"Prudential's strategy – under the leadership of our CEO Anil Wadhwani and together with our joint venture partner, the CITIC Group – has seen us substantially increase our investment in our China business, enabling us to better serve and support our customers. While delivering on our commitments to them, Prudential – and the wider insurance industry – provides a significant source of resilience in the wider economy and society. With a long-term perspective and outlook, we're confident in the drivers of growth in China.

"As we will discuss at this year's IBLAC, harnessing innovation will be at the core of this growth and is at the heart of Prudential's strategy. Advances in AI, big data, and fintech are creating unprecedented opportunities to improve financial inclusion, deliver personalised products and services, and to drive sustainable growth.

"As a global financial and technological hub, Shanghai is at the forefront of this digital transformation. By leveraging Shanghai's dynamic innovation ecosystem, we can enhance our services and better meet the evolving needs of our customers. Already we've been developing and deploying advanced digital solutions to provide high-quality products and services to 1.6 million individuals and 14,000 group customers in China. Working together with policymakers on the development of the third-pillar private pensions, CITIC-Prudential Life has launched multiple pension products to better address the need for long-term financial security among aging groups in Chinese society.

"What we do with these long-term savings matters for wider economic growth. Which is why Prudential's asset management arm – Eastspring Investments, through its wholly owned business in Shanghai –now offers a wide range of investment products and services to meet the sophisticated needs of our clients and support long-term, economic development in the region. And what we do in our communities, to support talent and financial literacy as the bedrock of future innovation, is a key part of our work through the Prudence Foundation, with partnerships in China focused on childhood nutrition and financial education.

"This year's IBLAC is a welcome opportunity to share ideas and experiences across sectors and to work together on the innovative solutions and supporting, predictable policy and regulatory frameworks which can drive future prosperity and growth. I look forward to our discussions."