Author(s)

Qiaoping Zhou, Ki-Hyung Bae, Xuejiao Wang

Corresponding Author

Qiaoping Zhou

Abstract

Due to the further adjustment of economic globalization, continuous growth of transnational flow of such production factors as capitals, technologies and talents and the further international integration in the industry chain, there have been significant changes in the factor endowment structure and industrial transformation path of an open economy. Figuring out how to allocate a region’s production factors around the world and how to improve the local factor endowment structure and boost industrial transformation & upgrading and sustainable economic development has been a major strategy. The approved construction of China (Zhejiang) Pilot Free Trade Zone provides an opportunity for Ningbo to further develop an open economy. The profit center arising from international division of labor is shifting the focus from the traditional manufacturing and general service industries to the high-end manufacturing industry integrating IT and intelligent manufacturing and the digital service industry. Under the background, Ningbo must properly adjust the opening-up strategy, lead the world in technological and institutional innovation, improve the ability and level of enterprises and governments in terms of strategic layout of industry chain worldwide, and enhance China’s position in the international division of labor. In the new stage of economic globalization development, Ningbo will take more initiatives in the profound change of global economic pattern by implementing a more positive and active opening-up strategy. Ningbo has played a leading role in the pilot implementation of the policy for free trade zones. In the paper, an evaluation model was built by the analytic hierarchy process (AHP) to comprehensively evaluate Ningbo’s opening-up path and strategy on a quantitative and qualitative basis. In 2017, Ningbo got the total score of 65.79 through the comprehensive evaluation, including 51.43 in behavior-oriented indexes (percent of realization: 70.24%), and 14.35 in ability-oriented indexes (percent of realization: 54.18%). Through research on the path and policy of further developing an open economy based on the score, Ningbo will step up efforts to become a part of the national strategy, and further consolidate and improve its economic status in the domestic and foreign markets. This will be of great significance for creating an economic circle of port with leading, radiating and driving functions.

Keywords

Ningbo, Open type, Strategic path, Policy guarantee