Chinese Pilot Free Trade Zones (FTZs) are the flagship of Chinese reform and opening up, which were initially launched in Shanghai in 2013 and replicated in an additional twenty Pilot Free Trade Zones (Pilot FTZs) across the country by 2023. This chapter reviews the genesis, performance, and governance of the Chinese Pilot FTZs and highlights several insights. First, the Chinese Pilot FTZs have delivered about 300 institutional innovations to facilitate investment and trade, develop innovation capability and industrial transformation, and open the service sector. They aimed at boosting the dynamism of the economy and international competitiveness. Between 2013 and 2023, China emerged as a technological leader, narrowing the gap with the frontrunner USA. Second, the Pilot FTZs were distinct and primarily designated to improving the governance system, directed by the State Council, and executed by provinces and four municipalities under the central government, ensuring political leadership while enabling local adoption and policy learning. International standards were the benchmarks combined with principles of scalability and replicability. Third, nonetheless, the goals assigned to each pilot FTZ were based on the region’s competitive advantages and distinct positioning, which promote regional economic specialisation. Fourth, the chapter shows the typical features in contrast to the other Chinese development zones and Asian industrial hubs. Finally, the chapter highlights the advances and achievements of a decade of Pilot FTZs and points to possible areas for future research. The chapter highlights the critical lessons of Pilot FTZs, which are essential for developing and emerging economies and South-South economic cooperation and policy learning.