Research On The Impact Of Free Trade Port Construction On Business Enviroment

Superior business environment can provide strong guarantee for the long-term development and stable operation of enterprises.General Secretary Xi Jinping delivered an important speech on the 30 th anniversary of the establishment of the Hainan Special Economic Zone in 2018.The goal and steps of building Hainan Free Trade Port have been proposed,which has made new requirements for the further development of the business environment in Hainan Province and even reaching world-class level.Therefore,in the context of building a free trade port with Chinese characteristics in Hainan Province,further improving the local business environment is of great significance.At present,many scholars have conducted extensive theoretical research on the business environment,including the definition,influencing factors,evaluation standards,etc.These research results provide important support for improving and developing the theoretical system related to the business environment.However,in the context of strongly supporting the construction of Hainan Free Trade Port,empirical research on the impact of Hainan Free Trade Port construction on the business environment is still very scarce.This article helps to improve the shortcomings of relevant literature in optimizing the path of business environment,and increases the content of research on the business environment in the context of the construction of Hainan Free Trade Port.It provides a certain reference for the next step of reasonable layout,stable and healthy development,and the practice of building a world-class business environment for Hainan Free Trade Port.This article is based on the national conditions of China and the actual situation of the construction of Hainan Free Trade Port,and makes assumptions about the impact mechanism of the construction of Hainan Free Trade Port on the business environment.Based on the panel data of 31 provinces(cities and districts)in China from 2006 to 2021,combined with the existing literature research and evaluation reports,an indicator system suitable for evaluating the business environment level of Hainan Free Trade Port was constructed.The Projection Pursuit method was used to further measure the business environment level of each region,and the projection values of the business environment obtained were analyzed and compared.On this basis,the Differences in Differences method is used to examine the impact of the construction of Hainan Free Trade Port on the business environment.The robustness of the results is measured by four methods,namely,parallel trend test,counterfactual test,substitution of explained variables,and winsorize.In addition,in order to verify whether the hypothesis of the impact mechanism mentioned above is correct,a mesomeric effect model is constructed to test it.Finally,based on this empirical result,summarize and propose corresponding policy recommendations.The research results indicate that the development of business environments in various regions of China is uneven,with the eastern region having the most favorable business environment.And the construction of Hainan Free Trade Port can significantly improve the local business environment level,and can influence the business environment level through innovation driven effects,infrastructure optimization effects,knowledge flow effects,and economic vitality enhancement effects.