Shanghai FTZ (Photo/Cankaoxiaoxi.com)

The China (Shanghai) Free Trade Zone (FTZ) expanded to include the city's commercial and financial center Lujiazui and two other districts on April. 27, 2015. It marked the end of the trial period and the official opening of the 2.0 Shanghai FTZ.

New space, new subject

From 29 sq kilometers to 120 sq kilometers, Shanghai FTZ has enlarged its surface area by a factor of four. The new 2.0 Shanghai FTZ covers Lujiazui, Jinqiao, Zhangjiang districts, and the comprehensive free trade zone. By adopting international management processes, FTZ will provide many more platforms for deeper reform and economic innovation.

Shanghai FTZ has now been delimited into 5 districts with independent committee offices. Chen Bo, secretary-general of the FTZ research institution at Shanghai University of Finance and Economics compares the 5 districts to five fingers — they all have their own specialties and can come together to make a fist.

Now Pudong is also establishing a project to transform government functions with several practical reform strategies. Existing processes such as administrative examination and approval, management issues, and administrative penalties have all been reviewed and improved.