A free trade port is a special economic function zone with the highest level of openness in the world. The construction of free trade ports will lead a new round of opening-up in China, and it is an important milestone in the process of China’s 40 years of opening-up.The essential feature of the free trade port with Chinese characteristics lies in its free flow of elements and resources.Its function is to promote foreign trade, cultivate modern industries and lead opening-up. Its internal logic is to reduce transaction costs, and its core lies in institutional innovation.In the process of exploring the construction of free trade ports, we need to grasp the deep logic of economics behind their construction from the perspectives of market opening, institutional innovation and spatial evolution of economy, and profoundly summarize the evolutionary law and successful experienceof the world’s free trade ports from both historical and practical perspectives. And in combination with the realistic foundation of the construction of free trade ports in China andon the basis of the principle of inclusive opening and development, we need toconstruct the policy and institutional system of free trade ports with Chinese characteristics from the perspectives of trade investing, element agglomeration, taxation system, industrial development, location layout, operation mode and supervision system,and focus on the opening-up of their offshore functions and the development of modern service industries, so as to finally form anembedding mechanismand integrated innovation for the free trade ports with Chinese characteristics and for the Belt and Road Initiative, and promote the formation of a new comprehensive opening-up pattern.
Shi Benye, Wang Xiaojuan.
Exploring the Construction of Free Trade Ports with Chinese Characteristics: Theory,Experience and Institutional System[J]. Journal of Peking University (Philosophy and Social Sciences), 2019, 56(4): 149-158