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"Having the chance to play one of the finest violins is rare," said Li, adding that it is the additional benefits - sharing information and learning more knowledge - that really attracted him to make the investment.

"Guangzhou is at the right timing to develop IAB," said Wang Xiaodong, co-founder of BeiGene and a foreign academician of the China Academy of Sciences.

"Foreign visitors come to our city for a better understanding of its cultural relics and historic sites. As a local resident, I feel I have a duty to show them around," he said.

"Further opening up the banking and insurance sectors is not only essential for the development of Chinese economy and finance but also is conducive to enriching market entities and stimulate market vitality," Guo said.

"GIFT IFSC provides 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.