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"Governments should substantially reduce their role in direct resources allocation, and channel more energy into macro regulation, public services, market supervision, social management and environmental protection," said Yang Weimin, deputy head of the Office of the Central Commission for Financial and Economic Affairs.

"Further opening up is the key to attracting foreign investment in this crucial phase," said Lan Shaomin, Party secretary of the city, noting that opening up is in the genes of Suzhou.

"Hainan is taking a series of measures to build the review and third-party evaluation system and mechanism for intensified implementation of competition policy, including a coordination mechanism between competition policy and industrial policy, preliminary study and research for drafting the measures for anti-monopoly work in the Hainan FTZ and revising the regulations on anti-unfair competition in Hainan," said Yan.

"Greater efforts should be made in streamlining administration, enhancing compliance oversight and delivering better services to foster an internationally competitive business environment that provides equal treatment to domestic and foreign enterprises and stimulates the vitality of market entities and social creativity," he said.

"From a micro and macro perspective, I think it has to do with the emancipation of productivity in (the) growth of China," he said.