The US-based Asia Society has received approval to organize an international conference in Shanghai on May 10-12 next year.

After the successful Fortune Global Forum held in the city this year, the Asia Society will again bring world political and business leaders together to China next year.

The conference will examine factors determining business competitiveness in the 21st century, and what this means for the future of China, Asia and the world's economy.

The "China and Asia at the Turn of the Century: Opportunities for World Business Conference" is being co-organized by the Asia Society and Dow Jones and Company, in co-operation with the Shanghai municipal government.

More than 600 business executives and government officials from the Asia Pacific region, the United States and Europe are expected to attend the conference, the newspaper said.

Top Chinese officials, ministers from Asian countries, prominent business leaders and economists are expected to share assessments of strategies and visions at work.