Analysis of the Economic Growth Effect of the National Free Trade Port Zones

Abstract

In the dynamic landscape of globalization, the pivotal role of free trade zones in catalyzing openness and international trade has gained unprecedented prominence, drawing keen governmental interest worldwide. As China deepens its commitment to reform and openness, it ambitiously outlined plans for the establishment of national pilot free trade zones and free trade ports in 2018. The grand vision was to set a gold standard for openness in the new era and bolster international competitiveness. A thorough review and analysis of existing literature on national free trade ports reveal compelling insights. Evidence strongly suggests that the construction of these ports has not only significantly propelled economic growth but also triggered a ripple effect across various sectors. Mechanistic dissection elucidates that this growth can be attributed to heightened foreign investment attraction and accelerated technological innovation. This paper contributes robust empirical evidence to the discourse on refining and advancing the construction of the free trade system, thereby offering valuable guidance for policymakers and practitioners alike.