SHANGHAI will continue to be a pioneer in policy and other reforms as it seeks to become a hub of innovation with global influence, Mayor Yang Xiong said yesterday at the closure of the 27th forum of the International Business Leaders' Advisory Council (IBLAC).

"Financial reform, which is part of our efforts to support innovation, will be accelerated in the pilot free trade zone in the city," Yang said at the forum.

"We have just released a set of new reform plans and they are being readied for implementation," he said.