Overview China's Pilot Free Trade Zone Construction and Economic Globalization

Abstract

Pilot free trade Zones (PFTZ) are an important strategy of China's opening to the outside world. The construction of pilot free trade zones is a test for actively docking with high- standard international economic and trade rules, and an experiment field for reform and opening- up. Implementing a series of preferential policies in pilot free trade zones, exploring the success and experience, learning the lessons of failure, pilot free trade zones undertake the heavy task of first trial, replication and promotion throughout the countrywide. By September 2020, China had set up 21 pilot free trade zones with 260 innovative achievements. Firstly, this paper discusses the function orientation, development status, existing problems, development countermeasures andpreferential policies of pilot free trade zones. Secondly, it analyzes the influence of the establishment of pilot free trade zones on regional economy, electronic economy and industrial structure. Thirdly, on the base of different theories, the author makes an in- depth analysis of pilot free trade zones. Then DID model, synthetic control method, counterfactual method and other research methods are employed to verify the impact of the establishment of pilot free trade zones. Finally, this paper discusses the impact of the establishment of pilot free trade zones on domestic and international economy froma variety of perspectives. This paper attempts to analyze China's pilot Free trade zonesfrom a variety of perspectives, research methods and dimensions, so that scholars can have a more comprehensive and in-depth understanding of the valuable experience of China's pilot free trades construction, and provide useful reference for the construction of pilot free trade zones in the future.