The first conference on the development of the China (Hubei) Pilot Free Trade Zone Wuhan Area was held at China Optics Valley Convention and Exhibition Center in Wuhan, capital of Hubei province, from Nov 26 to 27.

The second expert consultation meeting for the area's development was also held.

Officials attending the conference included Xu Honglan, deputy mayor of Wuhan, and Chen Ping, deputy executive director of the administrative committee of Optics Valley of China.

More than 10 experts and scholars from research institutes, universities, and companies in the free trade zone shared opinions on the current development of the zone and gave advice on future reform and development.

Zhang Wei, deputy director of the Chinese Academy of International Trade and Economic Cooperation, pointed out that pilot free zones should focus on differentiated development and deepening innovation-driven reform.

According to Qin Zunwen, deputy director of Hubei Academy of Social Sciences, Wuhan free trade zone needs to put more focus on three aspects, namely reducing import costs, guiding companies to expand the scale of imports, and optimizing import mix to promote high-quality imports.

Guo Wenjun, a professor from School of Finance of Zhongnan University of Economics and Law, said that financial reform and innovation is the top priority of reform in free trade zones, and Wuhan free trade zone should improve its financial innovation capabilities to seek growth.

In the future, the China (Hubei) Pilot Free Trade Zone Wuhan Area will strengthen reform in the areas of technological and financial innovation, focus on developing characteristic industries such as financial service and modern logistics, as well as devoting greater effort to attracting projects and professionals, in order to seek further growth.

Experts attend the conference on the development of the China (Hubei) Pilot Free Trade Zone Wuhan Area, which is held at China Optics Valley Convention and Exhibition Center from Nov 26 to 27. [Photo provided to China Daily]

Zhang Wei, deputy director of the Chinese Academy of International Trade and Economic Cooperation, addresses the conference in Optics Valley, Wuhan, Hubei province. [Photo provided to China Daily]

Qin Zunwen, deputy director of Hubei Academy of Social Sciences, addresses the conference in Optics Valley of China. [Photo provided to China Daily]