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"Going public means more financial support and industrial recognition," said Zhou Zhihan, general manager of Kaixin Financial, a P2P wealth management platform set up by China Development Bank.

"Having more public participation in the city's development plans is important in the process of building Shanghai into an international city. It is also a sign of the government's improved ability of social governance," said Shi, who is also chairwoman of the worker's union at Shanghai Pudong Public Transport Co Ltd.

"Garbage problems come with rapid economic growth, and sorting is key to the reduction of trash," said Fu Xiaofeng, deputy secretary-general of the Zhejiang provincial government.

"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.

"From my understanding, the 'special' transfer means all funds need to be transferred rapidly, from the high-level government to the grassroots, without any intermediate link. And a special supervision system is needed to ensure the efficiency of the fund usage, avoiding retention of funds by the mid-level government," said Su.