Focus and Emphasis of the Reform of the China Pilot Free Trade Zone Under Sino-US Trade Friction

Abstract

Faced with escalating trade protectionism and trade frictions, the pilot free trade zone carries the historical mission of “pilot ground” of a new institution for a comprehensive open economy in China. This paper will start from the deep-seated causes of the Sino-US trade friction in the pilot free trade zone, and put forward some simple opinions on the focus and emphasis of the reform of the pilot free trade zone under this trade friction. This paper asserts that the pilot free trade zones should force institutional reform in the restructuring of the global value chain. The government should take an active role in the face of major technological changes and globalization, and at the same time establish a unique control mechanism of capital flow risk with Chinese characteristics during opening-up.