The first year of operation of the China（Shanghai）Pilot Trade Zone（SFTZ）has achieved positive progess in implementing the five major missions in the Framework Plan of the State Council，and has also provided valuable experience for deepening China’s reforms and opening. From the perspective of institutional innovation，there are three types of reforms. The first type is the continuaiton of practices which have been tested in other regions in China. The second type is the broadening of reforms in zones which were part of SFTZ，such as the Waigaoqiao Free Trade Zone. The third type is innovation reforms which have not been done before in China. The last type is the highlight of SFTZ. While innovation reforms of the SFTZ have made progrese，four aspects need to be strengthened：The speed and pace of reforms are slower than expected；innovation measures are far behind international standard；innovations tend to be fragmented；and the operability of innovations need to be stengthened. Furthermore，deep-rooted underlying problems include bottlenecks in institution，in organizational mechanism，and in the legal system. Suggested remedies include the following：Establishing a FTZ leading Group at the national level；strengthening the coordination function of the SFTZ Leading Group in Shanghai；enhancing the solemnity and authority of the law；and letting more enterprises，industry associations and other social organiazations to paticipate in the reform process of the SFTZ.