Title:China (Shanghai) Pilot Free Trade Zone Embarks on A New Journey of High-Standard Institutional Opening-Up

On December 7, 2023, the State Council officially released the General Plan for Advancing High-Standard Institutional Opening-Up of China (Shanghai) Pilot Free Trade Zone in Alignment with High-Standard International Economic and Trade Rules (hereinafter referred to as the “General Plan”). This is the fifth reform plan for the China (Shanghai) Pilot Free Trade Zone (SHFTZ) issued by the State Council since the establishment of the SHFTZ in 2013. Since the SHFTZ has made significant progress over the past decade, it is now set to fully implement a strategy that aligns with the overall requirements and tasks under the General Plan to build a national demonstration zone for institutional opening-up.

Significance of the General Plan