Author(s)

Wang Manna

Corresponding Author

Wang Manna

Abstract

The main task of free trade zones is to explore new ways and modes of China's opening to the outside world, to accelerate the transformation of government functions and administrative system reform, to promote the transformation of the mode of economic growth and to optimize economic structure. Hubei area covers an area of about 70 square kilometers, and its economic development has a certain emphasis on the region, as well as a certain degree of selectivity in the content of reform. Although FTA is not a depression of preferential policies, but a highland of opening to the outside world, the opening policy given by the state to FTA is still slightly inadequate, and the pressure test of FTA is insufficient. The construction of the financial regulatory legal framework of the Pilot Free Trade Zone still relies on the “three-party” and the State Administration of Foreign Exchange and other national ministries and commissions to conduct separate research and the introduction of departmental regulations. The financial reform of the Hubei Free Trade Zone will also face the problem of the government system. Since the establishment of the Hubei Free Trade Zone, various laws, regulations, and policy documents have emerged in an endless stream. It takes a long time to really understand the standard of investment in the financial industry. Even the implementation of departmental projects needs to be based on the progress of the central reform.

Keywords

Hubei Province; Free Trade Zone; Financial Reform and Innovation