Free-trade zone for Shanghai

According to Xinhua news Agency,with the powerful support of central government,Shanghai is expected to exceed HongKong, becoming a financial centre which is almost second to none in the Greater China region.

Obviously, this plan will promote trade and regional integration process in Shanghai in a certain extent and also allow Shanghai to develop world-leading commodities exchanges.In addition,for the Foreign banks in Shanghai,they can have more room to develop them rapidly and easily,and for some domestic banks, the establishment of free-trade zone will make great effect in their overseas activities. What makes we citizens joyful is that shanghai will definitely turn to be a shopping paradise and we can easily buy relatively cheap luxuries.

On the other hand, it is not yet clear what it will really bring us since innovations are sure to produce price differences inside and outside the zone. It is said that the more ambitious there are, the more likely it is to fail.So,I believe we can try to take it one step at a time and just watch the influence.