The Tenth Anniversary of Free Trade Pilot Zones in China:Fundamental Experiences and Enhancement Strategies

Since the 18th National Congress of the Communist Party of China,the country has established 21 Free Trade Pilot Zones(FTZs),achieving significant pioneering results in reform and opening up and creating a strong demonstrative effect nationwide.The basic experience from a decade of FTZs includes:adhering to the centralized and unified leadership of the CPC Central Committee;combining top-level design with encouragement of grassroots innovation;leveraging the distinct characteristics and strengths of FTZs to form a differentiated development pattern;maintaining the integration of opening up with domestic reforms;using openness to drive reforms;and organically combining openness with national security assurance.Under the current and future new circumstances,China’s FTZs face new challenges and tasks.In accordance with the directives of the 20th National Congress of the Communist Party of China,an enhancement strategy for the FTZs needs to be implemented.This involves the following:First,accurately understanding and responding to the changing situation to create strategic opportunities.Second,shifting paradigms to implement innovation-driven strategies,using the new development pattern concept to guide the reform experiments and construction of the FTZs.Third,granting more autonomy to FTZs for reforms,pursuing progress while maintaining stability,and solidly advancing the reform experiments in the FTZs.Fourth,orderly expanding the opening up of the service sector and cautiously advancing the internationalization of the renminbi.Fifth,promoting innovative development in trade to build a strong trade nation.Sixth,establishing synergy with bilateral FTZs,Belt and Road cooperation,and national diplomatic strategies to enhance the linkage effect.

Achievements and Problems of Reform of Investment Management System for Shanghai Pilot Free Trade Zone

The establishment of Shanghai Pilot Free Trade Zone provides many possibilities for China's economic construction. This paper made a comparative analysis on investment management system of Shanghai Pilot Free Trade Zone and traditional investment management system,discussed achievements and problems of reform of investment management system of Shanghai Pilot Free Trade Zone,and finally came up with pertinent policy recommendations.

Position and Roles of Shipping Culture in the Construction of Shanghai Free Trade Zone

The roles of shipping culture were introduced firstly,and then the development situation of Shanghai Free Trade Zone was analyzed. Finally,the ration between shipping culture and the construction of Shanghai Free Trade Zone was discussed to provide reference for the development of Shanghai Free Trade Zone.

Hainan Island to Construct Free Trade Pilot Zones

In April of 1988,the establishment of Hainan Province was officially approved at the first session of the 7th National People’s Congress and Hainan Island was designated as a special economic zone.Since then,the beautiful Hainan Island has embraced unprecedented development opportunities and entered into a new historical stage of deepening reform and opening up economically.By virtue of continuous efforts throughout the past 30 years,Hainan has turned into an important portal for China’s reform and opening up as a frontier island.

TPFTZ(Tianjin Port Free Trade Zone)——A New Pattern of China's Openning to the Outside World

Under the guidance of Deng Xiao-ping’s strategic think-ing of openning to the outside world, the structure of om-nibearing openness has basically taken shape in China. Follow-

Pilot Free Trade Zones:Taking Reform and Opening-up to New Heights

CONSTRUCTION of Pilot Free Trade Zones(PFTZs)is a strategic measure of China’s reform and opening-up policy.Since the 18th National Congress of the Communist Party of China(CPC),it has taken the policy’s effectiveness to new heights.

China Accelerates Free Trade Zone Establishment

The Opinions on Acceleration of Implementation of Free Trade Zone Strategy,which was issued by the State Council in the end of 2015,clearly proposed the establishment of high standard global FTA(free trade zone)network that is based on surrounding countries regions and covers the'Belt and Road'region.As of now,China has signed 14 FTA agreements with 22 countries and regions,including ASEAN(Association of Southeast

Shanghai free trade zone ＂2＂ version of the competitive strategy analysis

Shanghai free trade area from 28.78 square kilometers expanded to 120.72 square kilometers, the space has expanded to 4 times the original. But in the second, it is more important to achieve the functional area. New self trade test area covers the Lujiazui financial and Trade Zone, Jinqiao Economic and Technological Development Zone, Zhangiiang High Tech Park and comprehensive free trade zone, the state-level development zone has formed a respective unique function and mature operation mode, expanding area, the area co reform, the development of dislocation. In the special regulatory region, actively learn from international practice, to further intensify reform efforts, especially to explore the construction of offshore financing to adapt to the development of offshore trade environment, to become the highest degree of openness in the region. ＂The expansion of the Shanghai free trade zone will help to test the innovation of different industrial types in a wider range.＂

A Comprehensive Bibliometric Analysis of China’s Free Trade Zones:Status and Evolutionary Trends

The China free trade zone,crucial for advancing a new open economy,has gained significant attention lately.We analyzed 885 papers from Peking University Core and CSSCI journals(2012-2023)using CiteSpace for visualization.Our research results indicate that the literature on China’s free trade zone peaked with 171 articles in 2015,and gradually returned to an average of 45 articles per year.The main research focuses in this field include“institutional innovation”,“negative list”,“financial innovation”,“financial openness”,“opening up to the outside world”,and“economic growth”.In addition,cutting-edge analysis indicates that“dual circulation”and“blockchain”are future research trends.The main authors of the literature include Yang Bin,Zhu Xiaolin,Yuan Bo,Li Meng,Zhao Liang,and others.Their affiliated institutions,research institutes,and universities have not yet formed a clear core circle of authors;The top three research institutions with the highest number of publications are the International Trade and Economic Cooperation Research Institute of the Ministry of Commerce,Kaiyuan Law School of Shanghai Jiao Tong University,and the Comprehensive Research Institute of the Free Trade Zone of Sun Yatsen University.This article delves into the current hot topics and progress in the research of China’s free trade zones,providing important references and inspirations for future scholars in this field.

Shanghai Free Trade Zone Within The Enterprise Capital Operating Condition Research

Development of Shanghai Free Trade Zone, pushing up the logistics support industrial transformation and upgrading, boosting the overall domestic demand for modem logistics services. In this paper, trade logistics company, for example, through the report analyzes the main indicators of change in company focus on capital before and after the Shanghai Free Trade Zone, it analyze the impact and significance of argumentation Shanghai Free-Trade Zone for logistics and warehousing industry in the region, hoping to fund operations management who inspire.

Free Trade Zones: An Alternative Route to Enter China

China＇s first free trade zone （FTZ） was la unched in Shanghai in 2013 as part of the city＇s plans to transform itself into a global financial center. The Shanghai FTZ was seen as an important breakthrough to promote wider and deeper economic development and financial reforms in China. Since then, three more FTLs have been established in Fujian, Guangdong and Tianjin. Ultimately,

Review of Managing the Risks of Offshore Banking and Its Implications for the China(Shanghai) Pilot Free Trade Zone

As more and more Chinese and foreign-funded banks settle in the China(Shanghai) Pilot Free Trade Zone(CSPFTZ), it has become an imperative to enhance risk management of offshore banking. At the international level, the regulatory effort for offshore banking mainly focuses on tax evasion and money laundering.Existing regulatory frameworks have established standards to identify countries providing facilities for money laundering and developed punitive measures. In terms of strategy, it is suggested that, firstly, relevant regulatory measures should be improved in the short term, and it is necessary to define the scope of offshore banking and regulatory measures for Chinese banks and foreign-funded banks under a suitable legal framework. Secondly,it is necessary to establish risk exposure mechanism and risk evaluation system for the offshore banking in the CSPFTZ, while risk management measures are implemented based on on-site supervision. Thirdly, in the medium and long term, it is necessary to enhance management of potential risks which can be created by offshore banking due to deregulation. Fourthly, on the one hand, specific regulations should be formulated to provide a regulatory basis for taxation; on the other hand, tax informational exchange agreements(TIEAs) may be used as a reference for achieving effective tax regulation.

The Construction of Shanghai Pilot Free Trade Zone and the Interest Rate Liberalization in China

It is of practical significance to study how to fully play the promoting effect of Shanghai Free Trade Zone(SFTZ) on China's marketization of interest rate after setting up SFTZ. In terms of interest parity theory,this article tries to divide the process of China's marketization of interest rate into different stages and conduct in-depth study of the formation mechanism of interest rate of each stage from the perspective of capital flow. The results show that marketization of interest rate is a system project. It can be divided into three stages: official interest rate supplemented market, two-track system and integration, according to the progress of marketization of interest rate, and the formation mechanism of interest rate of each stage varies. Free trade zone is a domestic and international hub for capital flow. The condition of capital flow influences capital supply, thus affecting the formation mechanism of interest rate domestically in free trade zone and promoting the progress of China's marketization of interest rate. Marketization of interest rate, capital account liberalization, internationalization of RMB, and construction of international financial center are the supplementary, inseparable and transitional process. Therefore, the promoting effect of SFTZ on the marketization of interest rate, the capital account liberalization, the internationalization of RMB and the construction of international financial center should be made full use of. Finally, on the basis of it, this study explores hardships that China's marketization of interest rate faces after the foundation of SFTZ and puts forward corresponding policy suggestion.

制度创新能否改善企业ESG表现——基于自由贸易试验区设立的准自然实验

本文以2009—2022年中国A股上市公司为样本,实证检验自贸区设立对企业ESG表现的影响。研究发现,设立自贸区有助于改善所在城市企业的ESG表现。作用机制研究表明,自贸区设立通过意愿、资源和行动三个层面作用于企业ESG表现,意愿层面表现为外资持股增加带来了ESG转型的压力,资源层面表现为融资约束缓解带来了开展ESG活动的资金,行动层面表现为企业环保投资水平和绿色创新水平的提升。结合企业内外部环境研究发现,在公司治理水平和地区金融发展水平越低的企业中,自贸区设立对企业ESG表现的正向影响越显著,再次印证了自贸区设立在影响企业ESG表现中发挥了治理效应和资源效应。异质性分析表明,在低层级城市和非国有企业中,自贸区设立对企业ESG表现的促进效应更大。本文的研究不仅加深了对自贸区设立的认识,也为促进ESG发展提供了实践启示。

自由贸易试验区经济效应与影响路径分析——以中国(四川)自贸试验区为例

中国(四川)自由贸易试验区作为首批内陆型自贸区之一,自2017年4月揭牌设立以来在完成改革试验任务、制度创新成果推广、开放引领作用、营商环境优化等方面均取得显著成效,并极大地促进了四川地区经济增长。采用合成控制法评估设立四川自贸区的经济效应,并从消费、外商直接投资和进出口贸易三个渠道分析自贸区影响地区经济增长的路径,在此基础上再进行双重差分估计和变换处理组单元与控制组单元的安慰剂检验。实证结果表明,四川自贸区设立对当地经济增长具有显著的正向推动作用,且影响路径是外商直接投资和进出口贸易,相比而言通过提升消费来促进四川地区经济增长的影响统计意义上并不显著。

自贸试验区设立能否提升地区共同富裕水平——基于宏微观数据的双重验证

新时代推进中国式现代化建设,走共同富裕道路,需全面深化改革与扩大高水平对外开放。自贸试验区作为高水平对外开放体系的基础和平台,对促进共同富裕具有重要意义。基于我国2006—2021年276个地级市面板数据及中国家庭追踪调查数据,通过构建多期双重差分模型,实证检验自贸试验区设立对共同富裕的影响。研究发现,自贸试验区设立显著提升了地区共同富裕水平,且经系列检验后结果依然稳健。异质性分析表明,该政策效应在经济基础较好的地区更显著,且效应随自贸试验区成立批次先增后减。机制检验表明,自贸试验区通过产业、贸易和要素三渠道促进共同富裕。通过从自贸试验区设立的视角探究共同富裕水平提升的路径,能够为地区资源统筹与协调发展、促进共同富裕提供政策启示。

China Pilot Free Trade Zones Call Reform of Arbitrator Liability

Arbitration is vital for China Pilot Free Trade Zones(PFTZs). Though both of the Criminal Law and the Arbitration Law have clauses on liability of arbitrator, the ambiguity is risky for foreign arbitrators. There are three main theories on immunity of arbitrator in the world while China does not choose any one or set up a new one. For PFTZs' development, it is time to establish details on liability of arbitrator and arbitrator immunity.

新疆边境旅游高质量发展的路径研究

在中国(新疆)自由贸易试验区(以下简称“新疆自贸试验区”)挂牌成立之际,如何充分发挥出新疆自贸试验区的优势,打造西部边境地区旅游高质量发展的示范样板,赋能旅游产业高质量发展,是目前亟待解决的问题。通过系统梳理新疆边境旅游发展基础和面临的主要困难,提出新疆自贸试验区“先行先试”进一步推进新疆边境旅游高质量发展的有关建议。

中国自由贸易试验区建设:面临的新形势、新任务和新举措——深入学习领会党的二十届三中全会精神

作为新时代中国发展的重要里程碑,党的二十届三中全会深刻把握了全球化趋势与国内经济转型升级的交汇点,明确提出“进一步全面深化改革、推进中国式现代化”的战略部署。自贸试验区作为我国改革开放的排头兵、创新探索的先行者,承担着进一步全面深化改革和扩大开放探索与积累新路径、新模式、新经验的历史重任。通过系统梳理我国自贸试验区高质量发展面临的国内国际新形势,从中获得新时期的新机遇和新挑战,并基于自贸试验区建立10多年来的基本情况,提出要使我国自贸试验区高质量发展之路行稳致远,必须落实“六更”新任务:更好地服务构建高水平社会主义市场经济体制、更好地推进开放型经济新体制建设、更好地推动现代化产业体系构建、更好地促进区域协调发展、更好地发挥平台辐射带动作用、更好地统筹发展和安全等。聚焦“五大”新举措,围绕推动自贸试验区扩容升级、增强自贸试验区开放创新的动力、创新自贸试验区管理体制机制和流程、提升自贸试验区人才队伍的素质水平、打造自贸试验区一流营商环境等重点,从发展规划、发展理念、行政管理、人才管理、环境建设等方面,为努力建设更高水平的自贸试验区建言献策,凝聚共识。

Shanghai Pilot Free Trade Zone and the National Strategy of Opening-up to Boost Reform

China＇s Shanghai Pilot Free Trade Zone （hereinafter referred to as ＂SHFTZ＂） has been running for more than one year so far. The establishment of the SHFTZ is an important Chinese strategy in a key stage when the global and Chinese economies are both undergoing significant transitions, which will have a far-reaching impact on China＇s transformation and development in the long term. Based on his own experience accumulated from participating in the preparation of the overall plan for the SHFTZ and his observations since its official operation officially began, the author conducts review of issues such as expected goals, selection of implementation methods and determination of evaluation criteria with respect to the establishment of the SHFTZ. In his view, the SHFTZ is a key element in China＇s national strategy of using opening-up to force further reforms.