Market Opening In market opening up, Shanghai always runs among the foremost in China. There have been lots of No.1 achieved in Shanghai’s opening up of service trade to foreign investment particularly after China’s accession to WTO. Shanghai is the only city, which firstly opens up in all the area of retailing, banking, insurance and telecommunications.
  
   Market System
   In order to make it the most well ordered city in China, Shanghai is now actively integrating the loose market to enhance market level and improve legal environment to protect intellectual property rights.
   Shanghai issued “Suggestions of Shanghai Municipal Government on M&A of SOEs by Foreign Investors” in 2002. In this year, non-public economy increases 18% higher than public economy，accounting for 32% of the GDP. In intellectual property protection, Shanghai has formulated 6 intellectual property laws and regulations. Besides, there are 3.78 lawyers among 10000 Shanghainese, which is 3.5 times that of Chinese average. There are over 50 foreign law firms in Shanghai，accounting for 1/3 of the total in China. Shanghai’s 160 municipal-level industrial associations also play important role in government decision-making and industrial self-discipline.
  
   Social Credibility
   Shanghai is particularly proud of its social credibility information system, the largest in China. In July 2000, Shanghai opened individual united credibility information system firstly in China. And in March 2002, Shanghai enterprises united credibility information systems was opened. Today 2.93 million persons’ (1/4 of Shanghai’s registered population) credibility files are covered by individual credibility system. Some 480, 000 enterprises have been incorporated into the enterprise credibility system, covering all enterprises in Shanghai.
  
   Financial Market
   As the financial center of China, Shanghai boasts the most comprehensive financial market system in China mainland.
   In 2002, Financial Service Office was established to strengthen the service function of local government. The financial market in Shanghai includes securities, inter-bank offerings, bonds, futures, foreign currency and gold, etc. Among it, there are 730 listed companies and 775 stocks are issued on Shanghai stock market (54 B shares, total amounts up to USD3 billion, which have attracted many foreign investors and pave a new path for them to invest in China. The exchange value of stock on Shanghai stock market in 2002 accounted for 60% of China’s total, with amount up to RMB2800 billion. Shanghai Gold Exchange opened in 2002, which indicated China has established all the Exchange Markets for main financial products and made Shanghai be the domestic financial center of China.