Financial reform in the newly-approved Guangdong Free Trade Zone should be deepened further, a member of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) said during the political advisory body's annual meeting on March 5 in Beijing.

In the other free trade zones in China, financial reform was conducted on a rather limited scale, so Guangdong should take the lead in deepening reform before subsequently promoting its positive experiences nationwide, said Zhang Xiaoji, a member of the 12th National Committee of the CPPCC and a senior researcher at the Development Research Center of the State Council, on the sidelines of the third session of the 12th CPPCC National Committee.

On March 5, Chinese Premier Li Keqiang vowed to take substantial measures to reform investment and financing systems when delivering a government work report at the third session of the 12th National People's Congress, the country's top legislative body.

The Guangdong Free Trade Zone, which has yet to be officially opened, includes three hubs -- Qianhai in the city of Shenzhen, Nansha in the city of Guangzhou and Hengqin in the city of Zhuhai. Hengqin is less than 200 meters away from Macao and is expected to enhance economic ties with both Hong Kong and Macao.

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