Author(s)

Menghe Chen ¹

Affiliation(s)

¹ School of Henley Business, Reading University, Reading, RG6 6UR, United Kingdom

Corresponding Author

Menghe Chen

ABSTRACT

At this stage, China's economy has stepped into a new era of high-quality development, and the construction of free trade zones has provided new growth momentum for the country's economic development. The establishment of Shaanxi FTZ is a major initiative to comprehensively deepen reform, expand opening up, accelerate the construction of "Belt and Road" and deeply promote the development of western China under the new situation. Based on the development status quo of Shaanxi FTZ, this paper empirically examines the economic growth effect of Shaanxi FTZ by using the principal component analysis method, and concludes that the establishment of Shaanxi FTZ has a significant positive impact and economic effect on regional economic growth through institutional factors such as trade facilitation and investment liberalization. Therefore, it is necessary to change government functions, promote the transformation and upgrading of foreign trade, accelerate the reform in the field of investment, and deepen the innovation in the field of finance in order to promote the development of Shaanxi FTZ, so as to promote the high-quality development of Shaanxi's economy.

KEYWORDS

Shaanxi Province, Free Trade Zone, Economic Growth Effect, Principal Component Analysis Method

CITE THIS PAPER

Menghe Chen, Research on the Economic Growth Effect of Shaanxi Free Trade Zone. Population, Resources & Environmental Economics (2024) Vol. 5: 101-110. DOI: http://dx.doi.org/10.23977/pree.2024.050114.

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