Research On Development And Construction Of ZAEZ Free Trade Zone

The Provincial government of Henan has announced the initiation of the development of a Free Trade Zone, which intends to cover mainly three areas, including Zhengzhou, Kaifeng and Luoyang, with a combinative and multifaceted developing network. The total area is about 120 square kilometres and the area of Zhengzhou is around 80 square kilometres, including Zhengzhou Airport Zone, Central China international Aviation Logistics Zone, Zhengzhou Economic & Technological Development Area, Zhengdong Innovative Financial Centre.On March 7,2013, the Development Plan of Zhengzhou Airport Economic Zone has been approved by the State Council, and the Airport Economic Zone becomes so far the first national experimental area for comprehensive airport economy. Meanwhile, it functions as an important part of the three major national strategies of Henan Province. In 2016, the strategy of "To Rapidly Develop Zhengzhou Airport Economic Zone" has also been included in the 13th Five-year Plan, in order to further the reform of the system and promote the innovation of this Airport Economic Zone.Based on this general context, the current paper is set against the background that Zhengzhou Airport Economic Zone has been applying for the position of Free Trade Zone (FTZ). There is a basic structure of the current paper. Firstly, this paper has explained the general concepts and classifications of FTZ, and put forward to the development of Free Trade Zone (FTZ) on the system and mechanism innovation,. Secondly, the paper provides a detailed discussion of the realistic foundation of Zhengzhou Airport Free Trade Zone, Meanwhile,analyses the main problems of Zhengzhou Airport Economic Zone in the transformation. Thirdly, In terms of domestic development experience of FTZ, the development measures and suggestions for the construction of Zhengzhou Airport Free Trade Zone are proposed.This paper focuses on the operation mechanism of the FTZ, with a close examination of four main aspects:investment and trade regulation system based on international standard, furthered development and innovation in financial sector, the establishment of standardized administration and law system, and a model of innovation and monitoring services.. In the conclusion part, the research findings are summarized and the future research directions are prospected.