What's the difference between Shanghai Free Trade Zone and Shenzhen Special Economic Zone?

1: Free trade area refers to a trade arrangement that is more favorable than the relevant provisions of the WTO in terms of trade and investment; Outside the customs territory of a sovereign country or region, designated areas are set aside to allow foreign goods to enter and leave freely, and no customs duties are levied. In essence, it is a tariff segregation area with free port policy. In a narrow sense, it only refers to areas that provide imported duty-free goods such as raw materials needed for export processing, similar to export processing zones. Broadly speaking, it also includes free ports and entrepot trade zones.

2. Special Zone, short for "Special Economic Zone". The central government has granted the special economic zones the right to examine and approve import projects, the right to examine and approve personnel going abroad on business, the right to export foreign trade, the right to manage foreign exchange and other economic management rights, and given a number of preferential policies in taxation, foreign exchange management, bank credit, labor and employment, and personnel entry and exit.

3. Different selection criteria-

Special economic zones: docking Hong Kong, Macao and Taiwan, introducing foreign capital and technology;

Free trade zone: North-South echo, focusing on self-transformation and upgrading

4. Different tasks-

Special economic zones: "in line with international practices";

Free trade zone: actively responding to global competition under the new normal

5. Different goals-

Special economic zones: a small economic model based on Hong Kong, Macao and Taiwan;

Free trade zone: a big country economic model against the United States, Japan and Europe

6. Different emphases-

The bait of special economic zones is preferential policies, and the bait of free trade zones is to eliminate policy barriers. "