Shanghai and Hong Kong are both the important poles in China’s economic development pattern，the healthy competition，complementary advantages and common development between these two cities，has important implications for the overall development of China’s economy. Shanghai and Hong Kong have practical foundation and good prospects for cooperation because of their complementary advantages. The Shanghai Free Trade Area has created a new opportunity to further deepen their cooperation. They should seize this rare opportunity，accelerate the full range of in-depth exchanges and cooperation，and jointly promote the Shanghai Free Trade Zone.