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The China (Shanghai) Pilot Free Trade Zone: Background, Developments and Preliminary Assessment of Initial Impacts

Author

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  • Daqing Yao
  • John Whalley

Abstract

The China (Shanghai) Pilot Free Trade Zone (SPFTZ) founded one year ago is a trial for China’s new round of reform and opening out, which has promised liberalization on capital account and trade facilitation as its main objectives. Here we discuss the differences between the SPFTZ and other free trade areas, and the developments of the SPFTZ in the past year. We also make a preliminary assessment of the SPFTZ’s initial impacts, especially of its impact on China’s capital account opening and financial liberalization. It is possible that the successful practice of the SPFTZ and more pilot policies replicated in China will give rise to a more balanced Chinese economy in the following decade.

Suggested Citation

  • Daqing Yao & John Whalley, 2015. "The China (Shanghai) Pilot Free Trade Zone: Background, Developments and Preliminary Assessment of Initial Impacts," NBER Working Papers 20924, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:20924
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    References listed on IDEAS

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    1. Yuqing Xing & Neal Detert, 2011. "How the iPhone Widens the United States Trade Deficit with the People's Republic of China:," Aussenwirtschaft, University of St. Gallen, School of Economics and Political Science, Swiss Institute for International Economics and Applied Economics Research, vol. 66(03), pages 339-350, September.
    2. Yuqing Xing & Neal Detert, 2010. "How the iPhone Widens the United States Trade Deficit with the People’s Republic of China," Trade Working Papers 23280, East Asian Bureau of Economic Research.
    3. John Whalley & Hejing Chen, 2013. "Are Offshore RMB Arrangements the Basis for a Long-term Exchange Rate System without Convertibility?," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 21(1), pages 26-46, January.
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    Cited by:

    1. Daqing Yao & John Whalley, 2015. "An Evaluation of the Impact of the China (Shanghai) Pilot Free Trade Zone (SPFTZ)," NBER Working Papers 20901, National Bureau of Economic Research, Inc.

    More about this item

    JEL classification:

    • F49 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Other

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