SANYA, Jan. 12 (Xinhua) -- Hainan provincial government on Saturday established an entrepreneurs consulting committee in the city of Sanya.

Alibaba chairman Jack Ma and Tencent chairman Pony Ma became the president and vice president of the committee. The other three committee members are Sinochem Group chairman Ning Gaoning, Peking University professor Zhou Qiren, and travel agency Ctrip chairman Liang Jianzhang.

At the first annual meeting of the committee, Hainan governor Shen Xiaoming said, the province has seen great economic and social progress but still faces such problems as imbalanced industrial structure, a lack of talent and comparatively high commodity prices. He hopes that the committee members could offer suggestions to help Hainan develop higher-end industries and further open up to the world.

Jack Ma said the province should build itself into a digital island and a free trade port featuring data technology. Pony Ma suggested that the province promote the integration of tourism with electronic entertainment and cultural industries.

Hainan was approved in April 2018 to build a pilot free trade zone covering the whole island and explore the establishment of a free trade port with Chinese characteristics.

The committee will hold annual meetings every December.