China's Free Trade Zone

Abstract

Since the proposal of the Belt and Road Initiative was put forward, China has firmly adhered to the basic national policy of opening-up to the outside world, has persisted in opening the national door to carry out construction, and has made great efforts to promote international cooperation. The 19th National Congress of the Communist Party of China reported that China supports multilateral trade, and promotes the establishment of a free trade zone and an open-minded world economy. During the opening ceremony of the G20 Business Summit (B20) in Hangzhou, President Xi Jinping delivered a keynote speech entitled “A New Starting Point for China’s Development and A New Blueprint for Global Growth”, and discussed China’s free trade zone strategy. He pointed out: Speeding up and implementing free trade zone strategy is the objective requirement of adapting to the new trend of economic globalisation. It is the inevitable choice of deepening reform in all aspects and constructing a new economic system of open type. It is also an important method for developing foreign relations and realising strategic goal of international cooperation. We should speed up the implementation of the strategy of free trade zone, give full play to the free trade zone for promoting trade investment, help Chinese enterprises to open up the international market, inject new impetus, add new vitality and expand new space for China’s economic development.