Mark Tucker: Shanghai will be the key hub and point of conversion for the technological innovation that will support the exciting national transformation

Mark Tucker, Group Chairman of HSBC Holdings plc, forecasts Shanghai's future by 2035.

He said: "To imagine what Shanghai will be in 10 years' time is not only an interesting exercise, but also a formidable challenge, not least because its pace of innovation and transformation is exponential. That momentum is then compounded by the national focus on new productive forces and the high-quality development of the digital economy. Context helps here. By looking back at what has happened and what has been achieved over the past 10 years, we can get a good sense of the tremendous advances that are likely to materialize over the next decade.

"In 10 years' time, Shanghai will be: Firstly, the key hub and point of conversion for the technological innovation that will support the exciting national transformation. Secondly, the centre of the green and low-carbon economy, for instance, where China can leverage competitive advantages in renewable energy technology and know-how. Thirdly, playing a significant part in the scientific and technological innovation that will be required to sustain and further cement the country's leadership position.