As a part of the China (Shanghai) Pilot Free Trade Zone (SHFTZ), Lujiazui Financial and Trade Zone covers an area of 24.39 square kilometers. It is surrounded by Huangpu River, the mother river of Shanghai, Longyang Road, Jinxiu Road and Luoshan Road.
Lujiazui area has China's most complete financial market system, financial infrastructure, and financial ecological environment, providing an important platform for the settlement of financial institutions, the gathering of financial talents, and active financial transactions. Lujiazui area further plays its role as a core functional zone for Shanghai World Financial Center (SWFC) as the State Council approved to incorporate it into the SHFTZ.
With the increasing global use of the RMB, more and more domestic and foreign financial institutions dealing with the innovation, pricing, transactions, and liquidation of renminbi products are attracted to relocate in Lujiazui. Lujiazui is home to a total of 734 licensed financial institutions, including 214 banks firms , 320 securities firms and 200 insurance firms, accounting for 60 percent and 90 percent of that of the whole Shanghai and Pudong New Area respectively.
It's also home to more than 1,500 non-banking financial institutions, more than ten factor markets of various types, more than 300 headquarters, and 87 regional headquarters of multinational companies. The area has 1,078 shipping institutions, among which 863 are shipping service providers, forming a relatively complete market system for finance and shipping.
As a major component of the SHFTZ, Lujiazui will learn from the advanced experience of global financial areas, such as the world's most open and influential Wall Street in New York and the City of London, and it will establish a financial system which conforms to international rules, and institutional arrangements that are conducive to the development of the modern service industry, such as the headquarters economy.
The zone will continue to promote investment facilitation, trade liberalization, financial globalization, and innovation in financial regulatory system. It will work harder in create a fair, unified and efficient business environment which is market and law-based and open to the world. It will strive to build itself into a main area for SWFC, a high-end service area for Shanghai International Shipping Center and a concentration area for Shanghai International Trade Center.
The China (Shanghai) Pilot Free Trade Zone Administration Committee was established on April 27, 2015. Formed on the same date, the Lujiazui Bureau of the SHFTZ Administration Committee is responsible for the pilot reform in Lujiazui area, and it coordinates with the SHFTZ Administration Committee. The bureau consists of six offices—the Office, Planning and Finance Division, Economic Development Division, Financial and Shipping Service, Administrative Approval Service and General Affairs Office.
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