| On August22,2013our country officially approved for establishment in China(Shanghai) Free Trade Zone, made it clear that the main task of the set up of FTZ is anew path to explore opening to the outside world and the new pattern, which is beneficialto foster globally competitive new advantages in our country, to build a new platform ofcooperation and development with other countries, and to expand the new space ofeconomic growth. This is a strategic arrangement that marks the further reform andopening up, which has a very profound significance. Since Shanghai FTZ was approved,the relevant stocks rose dramatically. The establishment of FTZ is conducive to attracthigh-end manufacturing, more processing, manufacturing, trade, logistics andwarehousing enterprises to gather in this, which is self-evident to promote thedevelopmentof the regional economy.In this paper, we analyzed how the set up of Shanghai FTZ influenced on the relatedindustries and the listed companies, respectively from the stock and future benefit. Byevent study of the relevant listed company’s share price study concluded that theestablishment of Shanghai FTZ had a significant impact on the relevant listed companies,especially in business related major with free trade policy. The FTZ had a greaterinfluence on the leading companies of related industries, mainly in real estate, logistics,port, trade, transportation, finance and other industries. However,the impact wasoverreaction phenomenon. In the short term, the influence of most of the measureswasnot notable to the industry. The policy meaning is mainly embodied in the industry forthe future development of guidance, communicating technology and system abroad. Withthe construction and development of Shanghai FTZ, its long-term effect will graduallyappear. The set up of Shanghai FTZ will be long-term benefit on related listed companies,which will have an important impact on the companies’ future development. |
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