The achievement brought by Tianjin Free Trade Zone (FTZ) in 2016 is phenomenal. Although the economic data of the whole area is yet to come out, the released data of its three major parts (Central Business Area, Airport Area and Dongjiang Bonded Port Area) showed a rapid growth during the past year. Also during the last year, 90 tasks promulgated in the General Planning of China (Tianjin) Pilot Free Trade Zone were all initiated. Among 175 innovative regulations, 151 were put into practice and 9 became the experimental models for nationwide promotion.
At present, when international trade situation is more unpredictable, the development path of Tianjin FTZ will provide important experience for the third batch of FTZs in the listing process.
Given the sluggish international trade growth, the import and export trade in Tianjin FTZ, especially the dramatic increase of the former one, owe to the FTZ’s institutional innovation and cross-border E-business . Moreover, with the deepening of Beijing-Tianjin-Hebei coordinative development, the sphere of influence of Tianjin FTZ will further extend in North China.
Unlike the FTZs abroad merely focusing on trade issues, the FTZs in China also forecast the effect of reform deepening. In the stage of implementation, more specific measures should be introduced to ensure the effect of institutional innovation in industrial development.
About the author: Bo Wenguang, researcher of Binhai Development Institute, Nankai University.
Source: 21st Century Business Herald
Translated by Shi Yuchen
Proofread by Ada