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OctAt present, anti-globalization and trade protectionism are prevalent, and the global trading system is undergoing a new round of restructuring. As China's economic growth enters the "new normal" and the reform enters the "deep water zone", China urgently needs to seek institutional breakthroughs in the context of adapting to the new trend of globalization. The Hainan Free Trade Zone is approved in this context. The construction of the Pilot Free Trade Zone is different from the "policy preferential" model adopted in China's reform and opening up in the last century. It is not to form a "policy depression" but to create a "system innovation pool." Compared with other free trade zones that have been established, Hainan Free Trade Zone has unique features in system innovation.
There are generally three types of free trade zones in the world. The first category is the free trade zone (free trade zone), which means that two or more countries or economies have adopted the legally binding free trade agreement. On the basis of MFN in the World Trade Organization (WTO), the market will be further opened to each other, and tariff and non-tariff barriers for most goods will be eliminated, and market access conditions for services and investment will be improved, thereby realizing trade and investment liberalization. Such as China - ASEAN Free Trade Zone, North American Free Trade Zone, China-South Korea Free Trade Zone.
The second category is the Free Trade Zone (Free Trade Zone), which refers to a specific area established in a country or region that implements special preferential taxation and special regulatory policies. For example, the Free Trade Port of Hamburg, Germany, the Free Trade Zone of Singapore.
The third category is the free trade pilot zone. This is the innovation of China's institutional reform. It is the strategic move of the Party Central Committee and the State Council to comprehensively deepen reform and expand openness under the new situation, and undertake the task of exploring new ways for the reform and opening up and accumulating new experiences. In the "China (Hainan) Pilot Free Trade Zone Comprehensive Plan" (hereinafter referred to as the "Comprehensive Plan"), it is clearly stated that the Hainan Free Trade Zone has the task of "accelerating the construction of an open economic new system." Unlike the free trade zone between countries, the Hainan Free Trade Zone is a unilateral independent implementation of the open policy. Its legal basis is domestic legislation, and respects international trade law in the practice of the free trade zone.
Since 2013, China has tried to establish 11 free trade pilot zones such as Shanghai and Fujian, and accumulated experience in the construction of certain free trade zones. The “Comprehensive Plan” of Hainan reflects the long-term planning with unique island characteristics.
1. Linkage development between industrial planning and trade upgrading. The “Overall Plan” shows that the Hainan Free Trade Zone not only has the functions of trade promotion, trade transformation, trade facilitation function, which are the normal functions of free trade zone, but also industrial selection and industrial agglomeration development. When the Shanghai Free Trade Zone was established in 2013, its most prominent position was to bring the domestic trade and investment system into line with international rules at a higher level, reflecting the direction of the Chinese government's further implementation of the free trade development strategy. In addition to emphasizing the inherent attributes of the free trade zone, Hainan’s “comprehensive plan” attaches more importance to promoting of trade transformation and upgrading, and fostering new models of trade new formats. For example, in the program, specific support for new service industries such as cross-border e-commerce and service outsourcing is clearly defined. Not only that, the “Comprehensive Program” also gives some advice on the development of trade-related industries.
2. Taking into account the unique geography and resources of Hainan in terms of industry selection. The Free Trade Zone emphasizes the direction of industry development based on service industry and highlights the importance of tourism and shipping industries. This is different from Tianjin and Shanghai Free Trade Zone: the former is positioned with bonded warehousing and export processing, the latter is positioned with financial services and professional services.
3. Taking into account the existing industrial base of Hainan, and proposing the task of accelerating and promoting the innovation and development of the service industry. Here’s emphasis is placed on development path which is industry development first, and make interaction with open. This is different with Shanghai Free Trade Zone, which is further based on mature industries and strengthens the deeper levels of openness.
4. The Hainan Free Trade Zone has a greater development goal, which is to become a free trade port. Different from the other 11 free trade pilot zones in China, the Hainan Free Trade Zone is “global”, which laid the foundation for the further development of Hainan Free Trade Zone into a free trade port. Hainan Island has a total area of 35,400 square kilometers, and Hong Kong Free Trade Port covers an area of 1,095 square kilometers. If Hainan develops into a free trade port, it will be 32.33 times that of Hong Kong.
5. In the management mode, the People's Government of Hainan Province has been given more autonomy, and the development of the free trade zone is directly linked to the management functions of the provincial government. Hainan Province is required to explore and establish an administrative management system that is compatible with the construction of the Pilot Free Trade Zone. This is currently the highest level of management model in China's free trade zones. Tianjin, Shanghai and other free trade zones are managed by local government agencies.
6. future-oriented planning in a comprehensive way, in terms of industry choice, management is oriented to the Internet economy, and even prepare for the arrival of the intelligent era. Emphasizing the development of cross-border e-commerce in the industry, the “comprehensive plan” in management requires the full implementation of the “Internet + government service” model, integrating resources and data, accelerating the construction of an integrated Internet government service platform, and paying attention to the application of artificial intelligence technology to improve the level of intelligent social governance.
It can be seen that the “Comprehensive Plan” has given Hainan a starting space for the development of high-standard industries, and has given Hainan a wide geographical space, even more a space for the next generation of science and technology. In such a vast space, as long as Hainan can earnestly accumulate and mobilize elements such as finance, manpower, and institutions, it will become a unique region for China to open to the outside world.
(The author is the research fellow of NADS and professor of the School of Economics RUC.)
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