The three places were listed on the same day, and the first-hand Shanghai Free Trade Zone, from south to north, "connected into a line", outlined a new pattern of reform, opening up, innovation and development. Strategically, after the upgrade of the free trade zone, through the spillover effect of the group, we can strive for new advantages in global competition, actively participate in major trade negotiations and global trade rules. On April 21, the Guangdong, Fujian, and Tianjin Free Trade Zones were unveiled. The construction of the second batch of free trade zones was officially launched. As a "birth certificate" for the free trade zone, the State Council has also officially announced the overall plan for the construction of the three-zone free trade zone and the deepening reform plan for the Shanghai Free Trade Zone. At the same time, the negative list of uniform application in the four places was officially unveiled.
The free trade zone has entered the 2.0 era, which means that the China Free Trade Experiment will be transformed from the past Shanghai to a new situation of four golden flowers. What are the differences in the functional positioning of the four free trade zones? What changes have occurred in this negative list? With the radiation and expansion of the Free Trade Zone, how will the Shanghai Pioneer Free Trade Zone be developed?
Each of the four places has been positioned to officially operate the Shanghai Free Trade Zone for more than a year and a half. The “test field†is fruitful: the negative list model has been basically established, and the average customs clearance time for imports has decreased by 41.3% from outside the region, and the implementation of cross-border RMB (6.1981, 0.0046, 0.07%) financial new business such as settlement and two-way fund pool, shifting the regulatory focus from qualification approval to daily supervision.
With the listing of the second batch of the three major free trade zones, the “test field†has been increased from one to four. "The four free trade zones are distributed from north to south in the eastern coastal areas, and they have built new high-rise areas with different advantages and different emphasis on opening up to further deepen reform and opening up across the country." Zhang Zhanbin, director of the School of Economics, said.
According to the "International Finance News" reporter, the four free trade zones have their own positioning: Guangdong Free Trade Zone is based on promoting deep cooperation between the mainland and Hong Kong and Macao economy; Tianjin Free Trade Zone is based on promoting the coordinated development of Beijing-Tianjin-Hebei; Fujian Free Trade Zone is based on To deepen cross-strait economic cooperation; Shanghai Free Trade Zone will continue to be a "leader" in promoting investment and trade facilitation, currency exchange freedom, efficient and convenient supervision, and legal environment regulation.
In addition, the free trade zone will also drive the surrounding. Among them, the Guangdong Free Trade Zone will promote the transformation and upgrading of the Pan-Pearl River Delta region and the inland regions by promoting the transformation and upgrading of processing trade and building a comprehensive regional service development service area. On the basis of promoting the coordinated development of Beijing, Tianjin and Hebei, the Tianjin Free Trade Zone uses the mechanism of port cooperation to promote the development of the inland. The Fujian Free Trade Zone will focus on strengthening the cooperation between Fujian and Taiwan industries and innovating cross-strait service industry cooperation modes, and will stimulate the development of the economic zone on the west coast of the Taiwan Straits. The Shanghai Free Trade Zone will promote the rapid development of the Yangtze River Economic Belt by building a “single window†for international trade in the Yangtze River Delta region.
The Negative List of Negative Lists is the biggest policy tool to highlight the openness and transparency of the Free Trade Zone. The Shanghai Free Trade Zone was launched at the beginning of the negative list, which was reduced from 190 to 139 in 2014. The negative list of foreign investment uniformly issued by the General Office of the State Council for the four free trade pilot zones has further narrowed the scope of the restrictions compared with the first two negative lists of the Shanghai Pilot Free Trade Zone, with an adjustment range of 12.2%.
According to Xu Mingqi, secretary-general of the Shanghai Free Trade Zone Research Coordination Center, the new negative list shows China's opening to the outside world. Some analysts believe that the “unification†of the negative list of the four major free trade zones is conducive to the “replicable and scalable†role of the negative list system, which is beneficial to stimulate market vitality and further expand opening up.
According to the reporter of the International Finance News, the way of expressing the negative list has also changed. In addition to the traditional restrictive and prohibitive expressions, the new negative list has more allowable expressions. flexible. In response to the difference between the new negative list and the 2014 version, Chen Bo, deputy director of the Shanghai University of Finance and Economics Free Trade Zone Research Institute, pointed out to the reporter of the International Finance News that in fact, the negative list is not targeted to specific regions, but is copied and extended to Nationally, the negative list also includes the entire national economy, not regional. The difference between the expressions lies in the problem of formalization. The original negative list is based on the foreign industry investment guidance catalogue. This catalogue is stipulated from the legal point of view. Now, from the perspective of law, it is standardized.
This coincides with Zhu Min, deputy director of the Shanghai Free Trade Zone Management Committee. "More important than the length of the negative list is the change of government functions. The management of foreign investment has been changed from auditing to filing, as long as it is not on the negative list. Both the industry and the enterprise can enter, and this change is revolutionary."
Compared with other free trade zone master plans, the Shanghai Free Trade Zone has made a clear plan for the development of the Free Trade Zone after the three-year trial period. According to the "International Finance News" reporters, in the many initiatives of financial innovation in the Shanghai Free Trade Zone, capital account convertibility is the most concerned by the market.
Regarding the measures taken by the Shanghai Free Trade Zone in the opening of capital projects, Shen Xiaoming, member of the Standing Committee of the Shanghai Municipal Committee and director of the Shanghai Free Trade Zone Experimental Committee, and secretary of the Pudong New Area District Committee, said that Shanghai has two steps in the capital account convertibility plan. The first is Establish a free trade account, which is the infrastructure construction of the convertibility of capital projects; the second step is the convertibility of capital projects. “Now the first step is completed, and the second step is on the way. The second step we have formed a job. The plan is now in the process of being approved."
According to Shen Xiaoming, this time the financial innovation reform of the Shanghai Free Trade Zone is an important part of the construction of Shanghai's international financial center, and it is also a new impetus for the construction of Shanghai's international financial center. Shen Xiaoming pointed out that in the process of promoting financial innovation reform such as capital account convertibility, the three principles are grasped: the first is to insist on serving the real economy; the second is to persist in reform and innovation, to try first; the third is to insist on risk control, Steady progress; will continue to actively and cautiously promote capital account convertibility as a key reform in the financial sector in accordance with these three principles.
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