Free Trade Port Construction:Connotation, Basis and Effect Analysis

Exploring the construction of free trade port is a new mode of China's reform and opening up in the new era, it's an important way to promote economic growth and participate in the global free trade. But at present, the exploration of free trade port in China is still in its preliminary stage, and there is also a lack of comprehensive understanding of free trade port. This article systemically reviewed the literature on free trade port, summed up the five characteristics of free trade port compared with other special economic zones, summarized the basic conditions for the construction free trade port from the existing literature and the development of international free trade ports, and discussed the impact and effect of the construction of free trade port on regional economic development, industrial agglomeration and so on. The analysis of the article points out that the construction of China's free trade port requires superior geographical location, efficient custom clearance, high levels of free and open policy, preferential tax facilities and perfect laws and regulations as the support. The establishment of free trade port will promote the economic development of port cities, optimize the industrial structure, promote international trade and improve the port's international competitiveness. In the future, during the exploration of free trade port, we must provide targeted models of free trade port that are suitable for local development. For inland regions, we can fully integrate the "One Belt and One Road" initiative to expedite the exploitation of inland free trade ports; the functional research of free trade ports should focus more on offshore trade and offshore financial on the basis of free trade trial zones. And some models and method such as econometrics, performance evaluation models and supply chain optimization models can be used to deepen the study of free trade port.