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"Chinese consumer tastes are fundamentally different from (those of) other audiences. What sells well in China, usually only works there," Hou pointed out.

"Chinese people are more open to new technology, while the French like to do things the traditional way — that's why I see my product standing a bigger chance here than in France," Dessain-Gelinet told China Daily in his office at an incubator in the Hongqiao area of Shanghai.

"Corporations are diversifying their investments by increasing RMB bonds, instead of focusing on investment in US dollar bonds," said Ivan Chung, head of China credit research and analysis at Moody's Investors Services.

"Cross-border online shopping will be easier and faster. People will have access to cheaper foreign products after the establishment of the zone. And it is foreseeable that more foreign banks will establish themselves in the FTZ, enabling people to manage their money in diversified ways," he said.

"Competition is the soul of market mechanism. Implementing competition policy in China's FTZs will promote institutional innovation, enhance their development and explore effective ways to strengthen the fundamental roles of competition policy," said Gan Lin, vice-minister of the State Administration for Market Regulation and commissioner and secretary-general of the Anti-Monopoly Commission of the State Council, China's Cabinet.