China to take part in the game is opening three main industries (agriculture, industry, services) in all dimensions. Nevertheless, if China opens the agricultural market, it means the government will bear really heavy financial burden to support local peasants as many agricultural products are priced higher than average level in the world. In other two industries, there are also various kinds of obstacles such as regulations in financial service. Therefore, it is necessary for China to figure out a way to solve this problem.

China (Shanghai) Pilot Free-Trade Zone is beneficial not only to defend the Chinese dominance in global trade competition, but also to connect China’s economy with the global economy. It will also promote Shanghai to open up further to the outside world. China (Shanghai) Pilot Free-Trade Zone By huh-Rebecca focus on special policies. Secondly, this FUTZ is different from the Singapore Freeport mode. Singapore Freeport mode is characterized by the development of policies and systems in Freeport, including the freedom of trade, finance exchange and shipping.

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Even though China (Shanghai) Pilot FUTZ draws international practice, the main purpose is promoting reform and accumulating experience for reform in nationwide. Last but not least, this FUTZ is a national strategy which is not limited to general industry cultivation, investment and economic development. Actually, it intends to improve system of investment management, finance, shipping and trade at multi- levels. When it comes to the background, it is noticeable that China has become the second largest trading nation in the world since entering WTFO. In order to strengthen