Ground-Breaking Thoughts and Measures about Accelerating Construction of Shanghai Free Trade Port

[Abstract]

This issue of Key Reference publishes an article entitled Ground-Breaking Thoughts and Measures about Accelerating Construction of Shanghai Free Trade Port. According to the article, an international high-level free trade port is best characterized by a high degree of openness. By contrast, Shanghai’s bonded area and free trade port have a low degree of openness: First, they have limited functions with a low degree of economic openness; second, business cost is high; third, the governance system is complex; fourth, the legal basis is inadequate; fourth, risk control is not quite correct. The article finally gives several suggestions: First, Shanghai must try not to be confined by the concept of “pilot zone”; second, it must realize the legal position of being “outside the customs and within the boundary” step by step rather than simply copy foreign experience; third, it must establish a four-level governance system; fourth, it must create a free and low-cost business environment; fifth, it must change the philosophy and practice about risk control.