文章核心观点为上海自贸区的建立是为了探索中国新的改革开放道路，将对中国未来经济转型发展和结构升级起到重要作用。上海自贸区的意义不能只从区域本身的GDP、引进外资等指标来评价，而要从它在中国经济进入新发展阶段的制度创新和复制推广中来判断（NBER Working Paper 20924）。
ABSTRACT: The China (Shanghai) Pilot Free Trade Zone (SPFTZ) founded one year ago is a trial for China’s new round of reform and opening out, which has promised liberalization on capital account and trade facilitation as its main objectives. Here we discuss the differences between the SPFTZ and other free trade areas, and the developments of the SPFTZ in the past year. We also make a preliminary assessment of the SPFTZ’s initial impacts, especially of its impact on China’s capital account opening and financial liberalization. It is possible that the successful practice of the SPFTZ and more pilot policies replicated in China will give rise to a more balanced Chinese economy in the following decade.
