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Comparative Advantages of Free Trade Port Construction in Shanghai under the Belt and Road Initiative

by 1,2, 2,3,* and 1
1
The Centre for Modern Chinese City Studies & Institute of Urban Development, East China Normal University, Shanghai 200062, China
2
Geo-Studies Center, Faculty of Geographical Science, Beijing Normal University, Beijing 100875, China
3
School of Geographic and Environmental Science, Tianjin Normal University, Tianjin 300387, China
*
Author to whom correspondence should be addressed.
Int. J. Financial Stud. 2020, 8(1), 6; https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8010006
Received: 28 November 2019 / Revised: 11 January 2020 / Accepted: 20 January 2020 / Published: 3 February 2020
As China’s opening-up grows wider under the Belt and Road Initiative, the exploration and construction of free trade ports have received increasing attention. In 2018, China’s first free trade port was settled in Hainan instead of Shanghai. In 2019, after the Lingang New Area of China (Shanghai) Pilot Free Trade Zone was approved by the central government, six new pilot free trade zones were launched in Shandong, Hebei, Heilongjiang, Jiangsu, Yunnan, and Guangxi provinces. As the bridgehead of the Belt and Road Initiative, Shanghai established the first and biggest pilot free trade zone in China and gained the priority of institutional innovation exploration in Lingang New Area. Whether and how Shanghai will lead the construction of free trade ports and the new round of higher-level opening-up has become a research agenda that requires further study. Based on the document analysis, competition analysis and factor analysis in this paper, the following results were drawn out: (1) The construction of a free trade port is an upgrade of the 18 free trade zones and the 50 cities involved, and it needs more high-level opening-up, more sophisticated services, more rigorous supervision, and more professional talent; (2) With its geographical location, economic foundation, development support, and industrial services, Shanghai has the potential, foundation, and momentum to explore institutional innovation in the construction of pilot free trade zones and free trade port; (3) Development basis, port shipping, talent attraction, service support, risk supervision and control are the five major comparative advantages and the important driving factors that need to be considered in exploring and leading the construction of China’s free trade port under the higher quality development of the Belt and Road Initiative. View Full-Text
Keywords: comparative advantages; free trade port; factor analysis; Belt and Road Initiative; Shanghai comparative advantages; free trade port; factor analysis; Belt and Road Initiative; Shanghai
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MDPI and ACS Style

Hu, H.; Wang, S.; He, J.-l. Comparative Advantages of Free Trade Port Construction in Shanghai under the Belt and Road Initiative. Int. J. Financial Stud. 2020, 8, 6. https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8010006

AMA Style

Hu H, Wang S, He J-l. Comparative Advantages of Free Trade Port Construction in Shanghai under the Belt and Road Initiative. International Journal of Financial Studies. 2020; 8(1):6. https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8010006

Chicago/Turabian Style

Hu, Hao, Shufang Wang, and Jin-liao He. 2020. "Comparative Advantages of Free Trade Port Construction in Shanghai under the Belt and Road Initiative" International Journal of Financial Studies 8, no. 1: 6. https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8010006

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