Strategic Focus and Implementation Path for the Development of Ningbo Free Trade sub-Zone

Abstract

General Secretary Xi Jinping proposed the ideas in the construction of the free trade zone that it is a major strategic decision that focuses on both domestic and international situations, and promotes the innovative development of socialism with Chinese characteristics. Its core mission is to promote institutional integration and innovation. The Ningbo Free Trade sub-Zone (FTsZ) should take on the responsibility of tackling institutional innovation, functional innovation, and system integration in the free trade zone development strategy, becoming a benchmark sample for shaping, moulding, and improving the development strategy of national free trade zones, and becoming a reform outpost for accurately grasping the new trends of economic globalization and China's new requirements for opening up to the outside world. This study proposes a development strategy and implementation path for FTsZ with a strategic focus on standards, quality, professional markets, property rights, and intellectual property rights. It provides useful innovative ideas and decision-making references for accelerating the high-quality development of free trade zones, implementing central government’s free trade development strategies, and breaking through the obstacles of the anti globalization wave.