State of Council gives green light to Shanghai Free Trade Zone on 3rd July, it becomes the testing ground for mainland's first free trade zone. Based on the previous tracking from Anbound research team,Shanghai free trade zone can provide breakthroughs in many areas including interest rate，exchange rate liberalization，financial openness, financial product innovation and breakthrough in offshore business. Notably, the approval of Shanghai free trade zone will highly promote the development of Shanghai’s two international centers（finance and shipping）. Besides that, this testing ground will also become the new focus for capital market.