FTZ to deepen cooperation with nearby regions

China (Shanghai) Pilot Free Trade Zone is the country's first domestic free trade pilot zone and shows China's determination to further open up its economy under the new circumstances. The pilot free trade zone, approved by the State Council, China's Cabinet, in September 2013, includes seven bonded areas spread over 120.72 square kilometers.

As an experimental zone for comprehensive reform, the FTZ combines openness and innovation, a risk stress-testing zone for the open economy system, and a pilot area for improving the government's governance, while supporting the Belt and Road Initiative.

Since its establishment, the Shanghai FTZ has strived to become a highly open, efficient and legally normative free trade zone based in key functional areas of finance and trade, advanced manufacturing and technological innovation. In fact, by the end of 2017, the FTZ had completed more than 76 percent of the 98 key reform tasks according to the general plan.