(Yicai) Apirl 9 -- Shanghai should construct buildings keeping in mind that their use may change in the future, according to the deputy mayor of London for business and growth.

"My advice to Shanghai is to always think about dimensions when making a building today that may change use 20 years from now," Howard Dawber told Yicai in an exclusive interview. “If you build it so that it can be reconverted into something else in 20 years, you build it in anticipation of change, and that's not a bad thing.”

Dawber has 30 years of business experience, including 17 years as managing director for strategy at UK property developer Canary Wharf Group. During his tenure at Canary Wharf, he was involved in the development of the Elizabeth Line and the 2012 London Olympics Legacy, as well as commercial inward investment projects in tech, health and life sciences, and financial services.

"All cities change over time, so let's plan to accommodate that change and embrace it and drive the change," Dawber noted.

"Canary Wharf has become the global textbook example of taking a place that had one use and turning it into something new," Dawber explained. The company transformed docks that had no value and sat empty for a decade into London's new central business district and global financial center.

Dawber also highlighted London's successful management of Olympic venues after the Games. "I founded and became the governor of the Olympic Legacy charity to run legacy projects and fund the Cultural Olympiad," he said. “Halfway into the legacy plan, it's all working really well.”

Even though it was not completed in time for the Olympics, the Elizabeth Line has become a crucial infrastructure supporting London's continued renewal. The project adopted innovative financing methods, with beneficiaries contributing to its costs through various levies and development fees.

Shanghai and London, River Cities With Shared DNA

Dawber compared London to Shanghai during the interview, mentioning their striking similarities despite apparent differences. “We are similar in economic size, and both are river and trading cities that have been international from day one.”

Both cities have experienced similar patterns of industrial transformation. "We've been through the same wave of changes in downtown, where industry moved out -- in Shanghai's case to the new port, and in London's case out of the city entirely," Dawber explained.

"Canary Wharf and West Bund have a lot in common: similar size and similar ambition of turning dock and industrial areas into high-value offices, entertainment districts, retail, and new park spaces and making it a place that people want to come during the weekday for work and in the weekends for entertainment," Dawber said. “It's the same principle and a lot of the same challenges.”

Building UK-China Business Connections

During his visit to Shanghai, Dawber brought 14 scale-up companies ready to internationalize their operations. Each of them, with a turnover of up to GBP1 million (USD1.3 million).

"We hope they will find connections with Chinese businesses and customers," he said. "They're looking for business partners, investors, and opportunities." In just two days, two companies had already established new business relationships.

Despite surface differences in language and traditions, Dawber believes the UK and China share fundamental business values. "Chinese people like certainty, they like to know what the rules are and then fit within them," he noted. “They also believe in being honorable.”

"That sense of fair play and fair dealing, which is not normal across the world, is fundamentally crucial to the way China does business in the UK," Dawber explained. “The connection between the UK and China is very strong, very deep.”

This cultural alignment has created a strong foundation for business cooperation between the two countries. As international metropolises, London and Shanghai have significant potential for collaboration in urban renewal and industrial development in the years ahead.

Editor: Futura Costaglione