Free ports and free trade zones are two signature experimental elements of China's latest opening-up efforts. The global community already has experience in such areas, despite the absence of unified standards. How can China match its international counterparts? To find it out, our reporter Yang Chengxi spoke to analysts on the sidelines of the Boao Forum for Asia.

China has established 12 free trade zones in the past five years. Experts say the significance of that goes significantly beyond free trade itself.

DENIS DEPOUX SENIOR PARTNER, ROLAND BERGER "So the free trade zones in China have something quite specific, which is the market opening component, this sort of pilot component, trying new things that eventually can be extended. So it goes well beyond the simple concept of minimizing the burden of crossing a border, which is what most countries do with free trade zones."

The latest is an FTZ that covers all of Hainan province. Drawing on the experience of its Shanghai predecessor, the zone launched a free trade account system, and a streamlined online business registration platform, through which about 10 thousand companies have been launched.

YANG CHENGXI BOAO, HAINAN PROVINCE "During the Boao Forum, Hainan officials signed a cooperation memo with their overseas free trade zone counterpart, the Abu Dhabi Global Market in the United Arab Emirates."

RICHARD TENG, CEO FINANCIAL SERVICES REGULATORY AUTHORITY, ABU DHABI GLOBAL MARKET "Really to enhance trade and investment flows, capital flows between Hainan as well as The Abu Dhabi Global Market."

A session was held here on how China's free trade zones can draw on international experiences.

RICHARD TENG, CEO FINANCIAL SERVICES REGULATORY AUTHORITY, ABU DHABI GLOBAL MARKET "Our rules and regulations in terms of banking, securities and capital markets is really benchmarked to international standards, and not really tied down to local standards."

Experts say that's the direction that the Chinese leadership is taking. Premier Li Keqiang announced in his keynote speech on Thursday the additional opening up of China's financial sector. Premier Li also said that the government will add rules and measures by the end of this year to support China's new foreign investment law. Experts say that's something that foreign companies have long advocated. YCX, CGTN, BOAO, HAINAN PROVINCE.