It is reported that the proposal of Guangdong, Hong Kong and Macao Free Trade Zone has been submitted to the State Council and most likely will be approved. ANBOUND's senior researcher He Jun said that the differences between Shanghai FTZ and Guangdong, Hong Kong and Macao FTZ are as follows. First, Shanghai FTZ emphasizes on system innovation meanwhile the other focuses on development and construction. Second, Shanghai FTZ opens to the world and attempts to achieve systematic breakthroughs, while the other mainly opens to Hong Kong and Macao for cooperation. To a certain extent, it is skewed towards huge infrastructure development zone. Third, Shanghai FTZ is classified as national trade zone but the rank of Guangdong, Hong Kong and Macao FTZ is unknown. It might be a provincial development zone in Guangdong.