A Study On The Legal System For The Switch From Bonded Zone To Free Trade Zone

Bonded Zone (BZ), as a special economic development area with most open policies, has made enormous achievements and gained much experience after sixteen years' development and construction. In the context of China's entry into the WTO, in order to align with the international regulation and common practice, BZ will have a trend to be a Free Trade Zone (FTZ).This paper, with an introduction to the concept, the basic characteristics, the history of establishment and development of FTZ and the relationship between BZ and FTZ, analyses the status quo and future prospects of BZ becoming FTZ. A comprehensive legal system plays a key role in the development of FTZ. By means of comparison and contrast, the paper elaborates the management system and legal system of BZ and FTZ, absorbing the essence and experience of foreign FTZ, then further discusses the legal system construction for China's FTZ. This paper mainly includes the following parts: the history of establishment and development of FTZ and the basic theory of FTZ, an introduction to the legal system of foreign FTZs, the current legal system of China's BZ and the legal system construction of China's FTZ.In view of the importance of BZ in China's foreign trade and economic development, the successful experience of BZ will serve as a model for the development of China's foreign trade and economy. The establishment of FTZ legal system with Chinese characteristics will contribute to the prosperity and further development of BZ.