PwC's global chairman says Shanghai on right track, but haste needed

Ding Yining Zhou Shengjie Andy Boreham Wang Xinzhou
Robert Moritz, PwC's Global Chairman and the vice chairman of Shanghai's IBLAC, said the city is on the right track but noted that the plans in place should be implemented quicker.
Ding Yining Zhou Shengjie Andy Boreham Wang Xinzhou

Filed by Zhou Shengjie. Edited by Zhou Shengjie and Andy Boreham. Translated by Wang Xinzhou.

Robert Moritz, PwC's Global Chairman and the vice chairman of Shanghai's International Business Leaders’ Advisory Council (IBLAC) this year, sat down for an interview with media on Saturday as the council enters its 31st year advising the city's mayor.

Moritz spoke highly of Shanghai's recent initiatives, such as the expansion of the Free Trade Zone and the relaxation of restrictions for foreign businesses.

Shanghai will be better poised to compete with other cities following growing inter-connectivity across the Yangtze River Delta region, which will create many more opportunities and enable the city to continue to flourish, he said.

He noted that the plans for introducing foreign businesses into Shanghai are currently very well laid out, and that the city needs to execute those plans quickly to allow the city to stand out in a competitive landscape.

He also pointed out the need for Shanghai to introduce various investment forms for citizens such as asset management as investors' demands evolve.

Shanghai Mayor Ying Yong will hear members of the International Business Leaders’ Advisory Council on Sunday as a way of advancing the city’s role as China’s economic hub.

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