At the forefront of China's reform and opening-up, Shanghai is spearheading the world's second-largest economy's push for high-quality development, forging a path built on international collaboration and inclusive innovation, economists and executives said.

They made the remarks on Monday in Shanghai during the "Grow with China" CEO roundtable, which was jointly held by the Foreign Affairs Office of the Shanghai Municipal People's Government and China Daily.

"Shanghai is really open for cooperation, going beyond business," Marc Horn, president of Merck China, said. "We always say 'you need to be in Shanghai to not fall behind'."

The company strengthens its global portfolios by utilizing the city's capacity for innovation, and talent and manufacturing density. That is how "in China, for global" happens, Horn said, noting that Shanghai has become a key manufacturing and R&D hub for the company's advanced display materials.