Members of the International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC) are gathering on Sunday to offer their views on Shanghai's latest steps to become an international sci-tech innovation hub.

The main theme of this year's IBLAC meeting is "Leading Paradigm Transformation, Expanding Opening-up and Cooperation, Advancing Shanghai's International Sci-tech Innovation Center Initiative in the New Era."

First set up in 1989, the annual event marks its 36th anniversary this year. It now includes 44 members which are renowned multinationals in 15 countries in addition to 10 honorary members.