Academic Analysis On The Building Route Of The Open Economy System Of Yangtze River Delta

Great inventions brought about by new scientific and technological revolution in the middle of last century has given impetus to unprecedented advancement in science and technology, profound innovation in worldwide productivity as well as a rapider flow and transference of production element and industry. The reform and open policy having been implemented for three decades, the economic development in China has made remarkable achievement, which attracts worldwide attention. The sustainable economic growth, enhanced comprehensive national strength and the improved level of international division participation illuminate that the omni-directional, multi-leveled and wide-ranging opening situation has been formed in China. Foreign trade turnover as well as foreign investment inflow has accounted for the global proportion increasingly since the new century, which has led China to a closer relationship with the whole world economy and a more interplayed economic interest. With the acceleration of economic globalization, the way, the level together with the characteristic of participating global division in China have been adjusted and improved. China adopted export-oriented economy in the very beginning of the opening and the guideline has been changed into open economy that has been brought into effect in recent years, along with the economic development and the establishment of socialistic market economy system. Although open economy together with export-orient economy is under open economic condition, there are essential differences between them. Open economy that evolves from export-orient economy is the superior phase of it. On contrast, export-orient economy is an important component of open economy. A totally new concept that is called open economy system has been proposed for the first time in the 17th People's Congress in 2007, which indicates that Chinese characteristic socialism theory has already gained further development in economic field. Three peculiarities of the new guideline should be mentioned that are closer link between international and domestic, more mutual benefit and more secure and efficient course.It is the intrinsic requirement of economic development that open economy strategy should be implemented in China in terms of the international background and actual national condition that China is in the face of. On the one hand, China has such a large population that sufficient and high-quality human resources are the greatest comparative advantage in a quite long time. On the other hand, the bottleneck of natural resources and deterioration of ecological environment is becoming more and more obvious. Accordingly, only by actualizing open economy and utilizing international domestic markets and resources along with positively participating in the international division of labor, we can make full use of the comparative advantage to keep economy increasing and optimize resources allocation fundamentally. A better combination of"bringing in"and"going out"should be realized together with expanding open field, optimizing open structure and improving open quality.Yangtze River Delta, which has a good natural condition, superior geographical position, advanced economic foundation and benign infrastructure, is always the most developed region around China. Yangtze River Delta is one of the first regions entering the global economy in China, in which open economy strategy play an extremely important role. Since the reform and open period has commenced, Yangtze River Delta has been making full use of international domestic markets and resources to keep economy increasing rapidly, which has the most enormous economic capacity and the densest production elements at the present time. Since the reform and open especially the 1990s, with the exploitation and opening of Pudong, Shanghai's development has accelerated an unprecedented economy boom in Yangtze River Delta, which result in a international industrial transference from the developed country to Yangtze River Delta. Foreign direct investment has both propelled the economic development and accelerated the integration of industrial layout. Yangtze River Delta has already formed with an evolving trend of city groups constituting with Shanghai as leader and SuZhe as two wings, which is recognized as the global sixth metropolis group and one of the most potential areas in the world. Consequently, we suppose that open economy in Yangtze River Delta has matured and it has already started to build open economy system practically, whereas the whole country stays at the beginning all the same. Accordingly, deep academic evaluation and analysis on open economy system in Yangtze River Delta has a most practical significance and an important role. Nevertheless, although economy in Yangtze River Delta develops rapidly, there are such problems as the excessively high export-depending rate subsequently, which would put instability to the entire economy. Thereby how to solve the problems encountered in order to upgrade economic circulation and what kind of open economy system should be built for Yangtze River Delta is what we should consider more.There are five parts in all constituting the article. The first part of the paper is the introduction that expatiate research background, significance, main content, purpose, methods, innovation and related academic data home and abroad. The second part is the theoretical basis of open economy system, which introduces definitions, traits as well as differences of export-orient economy, open economy and open economy system, especially focusing on the framework and significance of open economy system in China. The third part is about the building of open economy system in Yangtze River Delta, which expounds the situation of economic development in Yangtze River Delta firstly, and then comes the course and the pattern of open economy. Finally we lay out the importance and necessity of building open economy system in Yangtze River Delta. The fourth part is the core of this paper, which based on statistics from Statistical Yearbook and Statistical Bulletin past years by modeling statistically and manipulating the DEA analysis methods to analyze the economic performances of different types of economy modality. And then, we get the scientific conclusion that open economy system is much better than open economy and export-orient economy, which accords with the level of economic development in China most. The last part of the paper is the fifth part that is about the problem and solution during building process of open economy system in Yangtze River Delta. Such problems as unilateral opening, simplex inflow structure of foreign investment, parallel industrial constitution, regional barrier and the risk economy security confronted with. And then comes to the solution, including six aspects which are the transformation of economic growth, innovation of investment and cooperation, improvement of the investment promotion system, optimization of the open economy layout, elimination of inter-regional barriers and improvement of the risk prevention mechanism.