The task of reform and opening-up of Shanghai Pilot Free Trade Zone (FTZ) and the Belt andRoad Initiative (B&RI)is intrinsic consistency, the latter is the new platform and emphasis of the former oninstitutional innovation. The institutional innovation is also enslaved to huge diversity and complexity ofcountries along the B&RI. The effect of SHFTZ' institutional innovation will be examined by implementingefficiency of B&RI.