This presentation will be based on parts of the body chapters of my thesis. Firstly, I will talk about the corporate restructurings in Shanghai’s urban water supply sector, including corporatisation, marketisation and partial privatisation. Since the 1990s, Shanghai has undertaken a major bureaucratic restructuring through separating its waterworks from the municipal water bureau, followed by a division of the municipal water into four smaller waterworks supplying the urban parts of the megacity. Secondly, I will talk about the marketisation and partial privatisation using the case study of Shanghai Pudong Veolia Water Company. Finally, a model of foreign involvements in China’s water supply system during the past two decades is constructed to help understand the nature of the marketisation and privatisation. In this model, the interplay between the Chinese Central Government, local governments, state-owned water groups and multinational water groups will be explored, while the dynamism shifts will be discussed in order to uncover the nature of this ongoing restructuring in China’s water supply sector.