Mei Xingbao, a member of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) and former president of China Orient Asset Management Corporation said on March 9 that the Guangdong Free Trade Zone should promote the fusion of Guangdong, Hong Kong and Macao, and suggested that leaders of the area should learn from the experiences of other zones while exploiting its special geographical advantages.

Mei Xingbao, a member of the 12th National Committee of the CPPCC and former president of China Orient Asset Management Corporation [Photo by Zhang Rui/china.org.cn]

Mei said that the development of free trade zones is very important to China's further opening and reform. The Shanghai Free Trade Zone has set a good example for others. As Premier Li Keqiang said, China should develop its other free trade zones, including Guangdong, Tianjin and Fujian, by first drawing upon the lessons taught by the Shanghai FTZ to avoid setbacks.

Mei also advised that the free trade zones should make good use of their distinctive features and advantages. The Guangdong FTZ, established in 2014, was chosen for its proximity to Hong Kong and Macao and because of its superior advantages in personnel exchange with these areas, since they all share a similar culture and dialect. According to Mei, Guangdong should seize this chance to reinforce its connection and cooperation with Hong Kong and Macao.

Regarding financial innovation in the Guangdong FTZ, Mei said the zone's leaders should take the message from Premier Li's speech to heart and pay more attention to Internet finance and small and micro finance.