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"GIFT IFSC provides a huge competitive advantage in terms of tax structure and supportive regulatory framework, which is comparable with other global financial centers," he said, adding that other advantages include the waiver of taxes such as the security transaction, commodity transaction, dividend distribution and capital gains taxes, as well as the goods and services tax.

"Given the current global economic and political uncertainties and trade friction, governments are tightening their scrutiny and regulation in areas like foreign direct investment. The joint operation model will play a big role in terms of transaction habits, disputes resolution and even company strategies," he said.

"For example, new cruise lines departing from the Nansha home port will be given 1 million yuan (9,500) as incentives," he said.

"For the first time in a long time people will be out of the house for recreation purposes and that means we all have to be vigilant," Berejiklian said.

"For the next step, we are attempting to sell our products abroad through cross-border e-commerce platforms such as Alibaba and Amazon," said Yu.