SHANGHAI, Sept. 15 -- Shanghai authorities announced Monday that Dai Haibo no longer serves as Communist Party chief and executive deputy director of the administrative committee of the China (Shanghai) Pilot Free Trade Zone (FTZ).

The free trade zone in Shanghai was officially launched in Sept. 29, 2013 and has pioneered several financial reforms, broadened foreign companies' access to China's service sector and explored more efficient and streamlined government oversight.