Buoyed by the optimism widely shared by global businesses, Shanghai, according to local authorities, approved the establishment of 4,223 new foreign-funded enterprises from January to August, a 3.9 percent increase compared to the same period last year.

Shanghai's opening-up and innovation-centered policies provide a powerful counter-narrative to claims of a China turning inward. For global executives, watching Shanghai is not just about watching one city — it is about observing the future of China's engagement with the world take shape.

Chinese leaders gathered on Monday for a major Party meeting that will run to Thursday in order to discuss the country's next five-year plan, a policy roadmap shaping key areas of national development, with ripple effects far beyond China's borders.

Despite the rising protectionism and unilateralism around the globe, China's next stage of development is expected to continue along the path of advancing high-level opening up and pursing innovation-led growth.

"The Chinese government is building a unique global ecosystem, with the country taking on a greater role in global investment," Rani Jarkas, chairman of Cedrus Group, said, adding that innovations in such areas as AI and battery technology provide other countries with more alternatives.