The State Council has approved of the Master Plan of China (Shanghai) Free Trade Pilot District on the executive meeting, and pilot districts will be built in four special Customs surveillance zones including Waigaoqiao bonded zone, Waigaoqiao bonded logistic zone, Yangshan Port bonded zone, and Konggang bonded zone.

The meeting highlighted the necessity of further reform and government function transformation. It pointed out that the government should innovate the investment management pattern and economic development pattern, facilitate trade and investment, and further open service industry; meanwhile, it should also be cautious of risks and promote the development of free trade pilot districts with world-class investment convenience, highly efficient supervision, and standard legal environment, building the free trade districts into test fields of reform and open economy. With the experiences accumulated during this process, these districts should be the epitome of economic development, thus facilitating the overall growth. Therefore, this is conducive to the formation of new competitive edge and new platform for International cooperation. It also helps exploring economic development potential and upgrades Chinese economy.