The formal launch of the Shanghai Free Trade Zone will offer small- and medium-sized enterprises in Shanghai a wider range of opportunities to upgrade and transform their industrial structures.

At the moment, most SMEs in China are trying to change their corporate structure from being manufacturing-based and labor-intensive to focus more on product design and quality.

The announcement that the Shanghai FTZ has been approved by the State Council will accelerate this process, while also ushering in more beneficial trading policies and cooperation with foreign partners.