President Xi Jinping was most likely pleased with the results of Monday's Shanghai Committee of the Chinese People's Political Consultative Conference, an annual session overseen by Shanghai's mayor, Yang Xiong.
The mayor used the developing island of Chongming as an exemplar of environmentally sustainable economic growth.
While the Free Trade Zone (FTZ) was the foremost agenda item, China's third-largest island was also discussed, as it is successfully employing new technologies to upgrade its agriculture sector and further develop various industries. A number of legal attendees even suggested that FTZ policies should be transferred across to Chongming Island to boost its economy.
Yang stated during the conference:
"We will face lot of new issues after the Shanghai zone is expanded. . . . After the expansion, we should consider piloting technology innovation system reform in the zone."
The mayor's rationale for the pilot exercise is in relation to the planned development of Shanghai as a global center for scientific and technological innovation.
Meanwhile, the FTZ expansion will consist of the inclusion of Lujiazui financial zone, Jinqiao development zone and Zhangjiang high-tech zone. As a result of the new additions, the total area of the FTZ, which is still in the pilot phase, will measure 120.27 square kilometers, an expansion of nearly 100 square kilometers.
Reforms were also discussed, as lower thresholds for foreign investment and the boosting of financial liberalization have been among those that have been implemented since the FTZ was established in Sept. 2013. Of the approved FTZ reforms, 27 were subsequently applied nationwide.
Although Yang commended the financial reforms that have been rolled out, he made it clear that the efforts to make Shanghai an international financial center need to be sped up.
Apart from the mayor's presentation, political advisers also put forward proposals on how to enhance the FTZ's impact and economic outcomes.