Shanghai, China - Oct 12, 2025 (CGTN - No access Chinese mainland)
1. Various of 37th International Business Leaders' Advisory Council for Mayor of Shanghai (IBLAC) in progress
2. SOUNDBITE (English) Severin Schwan, chairman, Roche Group:
"There's even a bigger potential here, and this is about innovation. My experience is that China is innovating very fast and China is able to scale innovations very quickly. So it's a good starting point to develop innovations for Shanghai, for China and actually for the whole world."
3. Board showing meeting information
4. Meeting in progress

Shanghai, China - Oct 13, 2025 (CGTN - No access Chinese mainland)
5. Various of Adidas CEO Bjorn Gulden at event with university students
6. SOUNDBITE (English) Bjorn Gulden, CEO, Adidas:
"So the plan is to continue to invest in the organization, very important that we have Chinese local management and that we have creatives who can create product. And then the speed of the market depends on also how the economy develops. But we are very, very optimistic when we see what we see. So we will invest in people, in stores, in technologies and design to grow the business."

FILE: Shanghai, China - Date Unknown (CGTN - No access Chinese mainland)
7. Aerial shot of cityscape
8. Humanoid robot working
9. Various of production line, employee working
10. Aerial shot of port

Top foreign business leaders have reaffirmed their confidence in China's economic development and market potential at the 37th International Business Leaders' Advisory Council for the Mayor of Shanghai.

The event was held on Sunday in Shanghai with the theme "Openness, Innovation, and Inclusiveness: Shanghai's Development Strategy Towards 2030."

Forty-five top global entrepreneurs from 17 countries participated in thematic discussions on technology empowerment, strategic advantages, openness, and green practices, among others, at the meeting.

Severin Schwan, chairman of Swiss multinational holding healthcare company Roche Group, emphasized China's development potential driven by innovation.

"There's even a bigger potential here, and this is about innovation. My experience is that China is innovating very fast and China is able to scale innovations very quickly. So it's a good starting point to develop innovations for Shanghai, for China and actually for the whole world," he told reporters at the meeting venue.

Bjorn Gulden, CEO of Adidas, said at the event that it's not a question of whether foreign businesses should invest in China, but how they invest and utilize the resources of China.

He also went to a local university for exchanges with students, and said he is confident about China's sports market.

"So the plan is to continue to invest in the organization, very important that we have Chinese local management and that we have creatives who can create product. And then the speed of the market depends on also how the economy develops. But we are very, very optimistic when we see what we see. So we will invest in people, in stores, in technologies and design to grow the business," said Gulden.

The advisory council was first initiated in 1989 with only 12 members. This year, six new members joined the council.

The next meeting will take place on October 11, 2026.

Shanghai is one of the top destinations in China for foreign investment.

The city had established over 3,000 new foreign businesses and attracted around 8.5 billion U.S. dollars in foreign direct investment in the first half of 2025.