IBLAC Concludes with New Chairman and 2026 Agenda on Service Innovation

The 37th International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC) concluded on Sunday, and the next session will be held on October 11, 2026.

The meeting will focus on promoting innovation in Shanghai's service sector, which now accounts for more than 78 percent of the city's GDP.

Rob Speyer, chief executive officer of Tishman Speyer, will take over as chairman, succeeding Severin Schwan, chairman of the board of directors of Roche Group and an honorary citizen of Shanghai, who has completed his three-year term.

Mayor Gong Zheng said the meeting deepened Shanghai's dialogue with the world and offered new ideas for technology-driven and sustainable growth.

"By working together, we can co-create a better future for the city," he said.

He noted that six new companies joined the council this year, the largest number in recent years, covering industries from semiconductors and finance to sports.

When asked about China–US trade tensions, Gong said Shanghai will stay open and continue to support foreign businesses as a key part of its growth.

"No matter how the external environment changes, we will do our utmost to provide more certainty to foreign companies and help them gain a competitive edge in global competition," he said.

Outgoing chairman Schwan said he was encouraged by the city's openness and pragmatic approach to global challenges.

"The issue of tariffs will certainly cause a lot of challenges for international companies," he said. "But Shanghai's ability to maintain dialogue and cooperation between business and government turns challenges into opportunities. Protectionism is not the answer."

Incoming chairman Rob Speyer said next year's agenda – innovation in the service sector – reflects Shanghai's economic reality and future direction.

"Innovation isn't just about technology," he said. "It's about every industry. Take AI for example, it's transforming life sciences, health care, consumers, and industry. That's why I appreciate next year's theme on innovation in the service economy."

Founded in 1989, IBLAC has become one of Shanghai's longest-running international advisory platforms, bringing together global business leaders to share ideas and help shape the city's development openly and collaboratively.