Shanghai Free Trade Zone Construction Experience

● Cao Jinyang Zhang Jianqin

The Shanghai Free Trade Zone has accumulated a group of replicable and promoted experience around the four aspects of foreign investment management, trade management, financial management, and government management. These experiences have a good reference for the construction of other parks in my country.

(1) Establish an investment management system with a negative list model. The negative list management model of the Shanghai Free Trade Zone is an important reform measure to change the relationship between market and government and promote the transformation of the market access model. This management model is not only in line with the international trade platform, but also promotes the economic development of the free trade zone. First of all, it is conducive to stimulating the innovation and creativity of market players, so that market players have the opportunity to get more market competition order with the same point. Secondly, it ensures that enterprises can distribute limited management and production capacity in the most effective places, minimize the economic and time cost of market entities, and reduce potential risks. Finally, it is conducive to attracting foreign investors to invest in, increasing the openness and transparency of government investment management, and increasing the level of opening up to the outside world in the Shanghai Free Trade Zone.

(2) Establish a trade regulatory system with trade facilitation as the core. The reform and innovation of the Shanghai Free Trade Zone through the trade supervision system has made trade in the free trade zone more convenient. The innovation of the category classification supervision model means that enterprises can store bonded and non -bonded goods in a warehouse, which not only effectively reduces the cost of the enterprise, but also increases the speed of customs clearance. The innovation of the customs supervision model has brought convenience to the trade of enterprise products. On the one hand, it reduces the cost of product circulation and shorten the time of product circulation; on the other hand, it further improves the efficiency of the trade exports of enterprise products. The innovation of the inspection and quarantine supervision model has made imported products in the Shanghai Free Trade Zone no longer lagging behind the international market, and gradually synchronizing with the international market.

(3) Establish a financial system with financial innovation services. The pilot of financial open innovation is an important part of the construction of the Shanghai Free Trade Zone. Through the reform of the financial field, the Shanghai Free Trade Zone has basically formed a financial innovation system framework with the convenience of trade investment. The Shanghai Free Trade Zone has established a free trade account system, realized the comprehensive opening up of overseas financing, and promoted the convenience of exchanges of investment and financing; the country is the first to achieve cross -border use of RMB; promote the pilot work of interest rate marketization, so that foreign currency deposit interest rates Get completely let go. These measures have greatly improved the financial opening level of the Shanghai Free Trade Zone, and the international financial image has renewed.

(4) Establish a government management system with supervision as the core after incident. Through the reform and innovation of the administrative management system, the Shanghai Free Trade Zone has made the administrative approval system shifted from previous pre -approval to post -event supervision. This reform has greatly broadened market access. In addition, the Shanghai Free Trade Zone vigorously promoted the construction of the comprehensive supervision platform after the incident, forming a regulatory system based on transforming government functions, and established a social credit system, information sharing and comprehensive law enforcement, security supervision, social forces participating in market supervision and other supervision and other supervision of market supervision. The establishment of these systems not only greatly reduces the cost of institutional transactions, but also guarantees the security of market transactions. More importantly, the business environment of the Shanghai Free Trade Zone has been further optimized.

(Excerpted from "Cooperation Economy and Technology")

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