As a national strategy, China（Shanghai）Pilot Free Trade Zone is a “special economic zone” in a new-round of reform of China, and has been given two functions with “economic upgrading” and “boosting reform”, i.e., the first purpose is to realize great economic development in the Zone by opening-up to make the Zone become a new economic “growth point” and further to boost the restructure and upgrading of Chinese economy, the second purpose is to conduct beneficial economic reform experiment, to make the Zone become a “pilot field” to deepen the reform and further to push forward the deepening of overall reform of China. With regard to “economic upgrading” function, China（Shanghai）Pilot Free Trade Zone has a series of unique advantages and will make great progress, however, as for “pushing forward reform” function, the reform practice of current China（Shanghai）Pilot Free Trade Zone is not too optimistic, furthermore, its reform experience can not be certain to have universal significance even though the reform is successful in the Zone, thus, the practical effect of China（Shanghai）Pilot Free Trade Zone may be affected and limited by such aspects as the subjective efforts of the administration, the practicability of reform measures in different zones and so on, and meanwhile, the implementation extent of the economic function of China（Shanghai）Pilot Free Trade Zone may also be affected by its reform achievements.