Comparative Study On Trade Policies And Effects Of Yunnan And Guangxi Pilot Free Trade Zone

Since the establishment of the Shanghai Pilot Free Trade Zone in September2013,the State Council has successively approved the establishment of other pilot free trade zones.Now,the number of China’s pilot free trade zones has expanded to21.Yunnan and Guangxi are also the fifth batch of regions to establish pilot free trade zones,with similar geographical locations and economic development levels,and both shoulder the task of border development.It is precisely because the two free trade zones belong to the border free trade zones and are divided into three zones,which have their own positioning and strategic objectives.Therefore,the two free trade zones are highly comparable.Theoretically,since a series of "policy dividends" in the free trade zone can promote foreign trade,thus bringing trade promotion effects and economic growth effects,whether the Yunnan Free Trade Pilot Zone and Guangxi Free Trade Pilot Zone,as the object of this study,can achieve theoretical growth,achieve the goal of establishment,and how their subsequent development is based on this question and the comparability of the two free trade pilot zones themselves,this paper will study.First of all,qualitatively compare the Overall Plan of China(Yunnan)Pilot Free Trade Zone and the Overall Plan of China(Guangxi)Pilot Free Trade Zone,and analyze the similarities and differences of the trade policies of the two free trade zones from the main tasks and measures in the overall plan.The similarities are as follows: First,the policies of the two free trade zones emphasize opening up along the border.Therefore,it is necessary to actively serve and integrate into the construction of the "the Belt and Road",and try first under the framework of the "Lancang Mekong Cooperation";Second,the policies of the two free trade zones advocate financial innovation.On the premise of ensuring financial security,support qualified banking financial institutions to carry out cross-border RMB settlement business,which can promote the process of RMB internationalization.Third,the policies of the two free trade zones attach importance to creating a good business environment to promote investment and trade.In the park,we should adhere to the rule of law and the rule of law to promote the reform of administrative system,management mechanism and other fields.Fourth,the policies of the two free trade zones attach importance to the construction of a "single window" for international trade.Through the "single window" function,it covers the whole process of international trade management,and actively carries out the "single window" international exchange and cooperation.The main differences are the following three points: First,the two pilot free trade zones have different policy preferences for opening up objects along the border.Yunnan Pilot Free Trade Zone strives to develop into an important node connecting South Asia and Southeast Asia,while Guangxi Pilot Free Trade Zone strives to build into a new international land and sea trade channel facing ASEAN.Second,the policies of the two pilot free trade zones have different effects on the number and effect of enterprises entering the zone.The number and quality of enterprises settled in Guangxi Pilot Free Trade Zone are higher than those in Yunnan Pilot Free Trade Zone.Third,the policies of the two pilot free trade zones have different impacts on the achievements of institutional innovation.The Yunnan Pilot Free Trade Zone performed well in the second year,while the Guangxi Pilot Free Trade Zone has maintained steady development.Then,the economic benefits of Yunnan Free Trade Pilot Zone and Guangxi Free Trade Pilot Zone are evaluated by using the emerging policy evaluation method-synthetic control method.Using the quarterly panel data from 2010 to 2021,establish a composite control group,that is,the data of other 10 provinces that have not set up a free trade pilot zone,compare the "actual value" after the establishment of the Yunnan Free Trade Pilot Zone and the "composite value" before the establishment of the Guangxi Free Trade Pilot Zone,and use the difference between the two to evaluate the total imports and exports,imports,exports and GDP.Through the analysis of data,it can be concluded that,in general,the establishment of free trade pilot zones has a positive impact on total imports and exports,imports,exports and GDP in both Yunnan and Guangxi.Further analysis shows that after the establishment of the free trade pilot zone,Yunnan’s total import and export,import,export and GDP processing effects have a common feature,that is,the difference shows a decreasing trend in the later period,so it can be considered that the free trade pilot zone has a large positive impact on Yunnan at the beginning,but this impact also shows a decreasing trend over time.It is also observed that the blue line trend of "real Yunnan" also shows the characteristics of cyclical fluctuations,that is,the rise and fall alternately,with an upward trend for a period of time and a downward trend for a period of time,so there are also several inflection points.This phenomenon is clearly reflected in the impact on the total import and export volume and GDP.After the establishment of the free trade pilot zone in Guangxi,the treatment effect also has a common feature,that is,the difference is slightly higher than zero at the beginning and significantly higher than zero at the later stage.Specifically,the blue line of "real Guangxi" has experienced small fluctuations in the period of time since the establishment of the pilot free trade zone,but since the second half of 2020,it has shown a trend of gradual growth,and it is a large increase.Only after the growth to a peak,it has a small decline.This phenomenon is clearly reflected in the impact on the total import and export volume and import volume.Therefore,it can be considered that the positive impact of the free trade pilot zone on Guangxi will gradually deepen with the passage of time,and the impact will become more and more obvious.Based on the above conclusions,this paper gives targeted countermeasures and suggestions to Yunnan and Guangxi Free Trade Zones based on their own strategic positioning,giving full play to the advantages along the border,continuing to carry out institutional innovation,promoting the expansion of trade scale and the improvement of trade quality to further improve the trade promotion effect of the policy.