Analysis Of The Legal System Construction Of China Pilot Free Trade Zone

Since China( Shanghai) Pilot Free Trade Zone was officially established on September 29, 2013,China’s FTZ construction is in full swing. Up to present, China has set up Shanghai, Tianjin, Guangdong, Fujian FTZs. Respectively, they are based on the four regional development strategies: the Yangtze River Delta, the Beijing-Tianjin-Hebei region, the Pearl River Delta and Taiwan Strait. On the other side, they all docking the strategy: “the Silk Road Economic Belt and the 21st-Century Maritime Silk Road”. Those four FTZs should be the forerunner of “Reform and Opening”.In order to form an experience with replicability, then the Standing Committee of Shanghai Municipal People’s Congress issued “Regulations of China(Shanghai)Pilot Free Trade Zone”. These two important documents, especially the latter one, known as the most influential legislation in the legislative history of Shanghai. As the "Basic Law" of Shanghai FTZ, the “Regulations” provides a more complete legal system for further promote of the FTZ. After that, Tianjin and Fujian also issued their own regulations, Guangzhou is working to develop it. The introduction of these laws and regulations will make the FTZ rules obtain legal support.However, in the absence of sufficient practical basis, legislative work was pushed for time. Besides, the legal construction of FTZ is a kind of system innovation, it always accompanied by anxiety and doubt. Admittedly, since it is still in the initial stage of construction, and due to its own special nature, the current legal system of Shanghai FTZ still has many problems to be solved.Therefore, this paper starts from the background of China’s FTZ, combining with domestic and international environmental. Secondly, contact with the FTA construction process of the United States, Singapore, Hong Kong and other countries, sum up the experience and lessons. Thirdly, analysis of the relevant policies and legal documents have been introduced, especially the innovation of Shanghai FTZ Regulations, and then combine with the similarities and differences of Tianjin and Fujian FTZ Regulations. Finally, in view of the problems and difficulties faced by the construction of China’s FTZs, the paper presented to the legal construction, including establish a unified regulatory agency at the national level, promulgated the “Free Trade Zones Law of the People’s Republic of China” as soon as possible, docking the new rules of international investment, trade and service. In order to attract more attention, discussion and questions of scholars and experts, thereby promoting FTZ to improve steadily, to withstand stresses and strains from fierce international competition.