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"Foreign institutions' willingness to operate in China should be much stronger after the removal of ownership caps, which used to be the major factor contributing to their lagging development in China," said Zhang Deli, chief macroeconomic researcher at Yuekai Securities in Guangdong province.

"Given Hong Kong's high degree of connectivity, the city helps propel people and businesses to excellence in their chosen fields through creative links, as well as people-to-people connections," Mo said.

"Growing coffee is less tiring than growing sugar cane. During harvest season, the elderly and children can all come to help pick the coffee beans."

"From China's perspective, the pledges made by both sides in the dialogue are encouraging. It helps to show that China is supporting multilateralism and will continue to open up further to foreign companies," Tommy Wu, an economist with British think tank Oxford Economics, said on Tuesday.

"Financial innovation is a top priority for Qianhai," said Du Peng, director of the Authority of Qianhai. "We will accelerate efforts promoting the further opening-up of the financial sector and encourage greater innovation to form a well-rounded financial ecosystem."