FTZ reaches record-breaking milestone

On its first anniversary, the China (Shanghai) Pilot Free Trade Zone, which epitomizes China's determination to push forward reform and upgrade its economy, has received equal shares of praise and criticism.

Authorities said they are making every effort to create an accommodative and fair market by issuing groundbreaking policies and reducing red tape, which has been applauded by both experts and executives.

At the same time, however, some are complaining that promised innovations have yet to materialize, and convincing steps to liberalize the financial market are lacking.