Shanghai FTZ will be an important step in China's economic reform

China's latest financial reforms are necessary as the country becomes increasingly engaged with the global economy and the pilot Shanghai Free Trade Zone is a good mechanism to effectively facilitate these reforms, says Gerry Grimstone.

The chairman of TheCityUK, a private association for financial and professional services, says reforms to be implemented in the Shanghai FTZ and subsequently across China will improve the country's global connectivity.