China recently launches its new free trade zone in Shanghai, China as a major step for their economic experimentation. It means that China might has its intention to upgrade its economic structure from socialism to capitalism. It has been reported that 25 Chinese and foreign companies were grants to start their branch in the zone. The goal of zone is to encourage foreign investment, upgrade its financial service in 18 sectors in the country’s tightly regulated service industry such as shipping, law and engineering or medical institutions. Generally speaking, Shanghai is trying to surpass HongKong by setting up a similar economic structure in Mainland China.

What does it mean by Chinese government set up a free trade zone in Shanghai? From my analysis, China is trying to expand its economics development to surpass United States. Moreover, China will remove the Great Wall restriction on the foreign website such as Facebook or YouTube. People is not allowed to access Facebook,twitter or other foreign website in the past.It displayed Chinese government seems prepared to release some controls to put its all effort to promote its free trade zone as a International finance center to compete New york City, London and Hong Kong. I personally China is going to set up its free trade zone in every province if the Shanghai free trade zone is determined to be an successful example. Now, The Chinese community is enjoying the business opportunity offered by the internet. Only revolution will make them become better and better. In the coming days, the Shanghai free trade zone will aim to prove itself as a transformative model for China’s economic structure and inspires of the rest of communism countries such as North Korea.

A man is walking in front of the Shanghai Free Trade Zone.

From http://www.scmp.com/news/china/article/1320509/china-launches-its-first-free-trade-zone-shanghai