Eval­u­a­tion in­dex for China’s FTZs re­vealed 68.37

China Daily (USA) - - SHANGHAI - ByWANGHONGYI in Shang­hai wanghongyi@chi­nadaily. com.cn

The de­vel­op­ment of China’s Free Trade Zones (FTZ) has played a lead­ing role in pro­mot­ing eco­nomic growth and sys­tem in­no­va­tion, and the pub­lic has showed pos­i­tive at­ti­tude to­ward the future of these ar­eas, ac­cord­ing to an eval­u­a­tion in­dex com­piled by the re­search team from Shang­hai Uni­ver­sity of Fi­nance and Eco­nom­ics.

“The in­dex aims to mea­sure the com­pre­hen­sive de­vel­op­ment con­di­tion of China’s Free Trade Zones and tries to ex­plore the pe­ri­odic law of the FTZs,” said Jiang Ruochen, vice pres­i­dent of Shang­hai De­vel­op­ment Re­search In­sti­tute un­der the uni­ver­sity.

How­ever, the im­pact of China’s FTZs on re­gional eco­nomic de­vel­op­ment is not fully re­flected in the in­dex, said the re­searchers.

The re­search team ex­am­ined more than 2,000 en­ter­prises to col­lect in­for­ma­tion such as en­ter­prises’ eval­u­a­tion of the de­vel­op­ment of the FTZ and the prob­lems they are fac­ing. Mean­while, pub­lic feedback, ex­pert opin­ions as well as data re­lat­ing to the growth of FTZs and the re­gion were also col­lected.

The in­dex for China’s FTZs is 68.37, mean­ing that the de­vel­op­ment of the zones has made a pos­si­ble im­pact on eco­nomic de­vel­op­ment. the in­dex for China’s free trade zones

The re­search team had also eval­u­ated the de­vel­op­ment of the FTZs in Shang­hai, Guang­dong, Tian­jin and Fu­jian based on the pa­ram­e­ters of de­vel­op­ment con­fi­dence, in­no­va­tion and in­flu­ence.

The de­vel­op­ment con­fi­dence in­dex is based on the opin­ions of the pub­lic and en­ter­prises re­gard­ing the fol­low­ing: the eco­nomic sit­u­a­tion in the coun­try and the re­gion, FTZs’ de­vel­op­ment con­di­tion, sys­tem re­forms as well as future trends. The FTZs’ com­pre­hen­sive de­vel­op­ment in­dex was found to be 69.52.

“En­ter­prises and mem­bers of the pub­lic are con­fi­dent about the de­vel­op­ment of the FTZs and this in­dex shows that these fi­nan­cial zones can bring more pos­i­tive ef­fects to re­gional de­vel­op­ment, en­ter­prises’ growth and the pub­lic,” re­searchers said.

The in­no­va­tion in­dex is used to mea­sure the op­ti­miza­tion ef­fect of the busi­ness en­vi­ron­ment in FTZs. The pa­ram­e­ters in­clude the ef­fec­tive­ness of the trans­for­ma­tion of govern­ment func­tions, the open­ing up of in­vest­ment, in­no­va­tion and fi­nance el­e­ments, as well as the pro­tec­tion le­gal sys­tem.

The in­no­va­tion in­dex was 66.87, re­flect­ing that there is still room for FTZs to im­prove their in­no­va­tion abil­ity, es­pe­cially in the trans­for­ma­tion of govern­ment func­tions.

Lastly, the in­flu­ence in­dex, which was 68.71, re­flects the im­pact that FTZs have made on the de­vel­op­ment of the lo­cal econ­omy and so­cial life.

In con­clu­sion, re­searchers said that the FTZs have sig­nif­i­cantly im­proved the open­ing up and pro­mo­tion of trade con­ve­nience, and have since their in­cep­tion gar­nered much valu­able ex­pe­ri­ences that can form a solid foun­da­tion for an in­ter­na­tional and le­gal busi­ness en­vi­ron­ment. level of the

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