Analysison the Economic Impact of the Establishment of Large-scale Free Trade Zone on Major Industries

Chuchu Xu

International business, Nanyang Instituteof Technology, Nanyang, 473000, China

Abstract:Since the establishment of China's pilot free trade zone, we have accumulatedsome experience in the economic construction of major industries in the freetrade zone. In order to better promote economic development and integrate withinternational economic and trade. The establishment of the free trade zone ensuresthe development of an open economic system in China. From the practice of regionaleconomic development since the reform and opening up, the development of openeconomy is the only way for regional development. We should make full use ofthe opportunity of domestic economic development, vigorously develop the openeconomy, and promote the leap forward development of the provincial economy. Wewill improve the new open economic system and promote rapid economicdevelopment. Then, it analyzes the economic impact of large-scale free tradezone on the main industries; this paper uses SWOT analysis method to analyzethe economic development status of the free trade zone. Based on the analysisof the participation in the international division of labor, thecompetitiveness of the industrial market and the operating environment of the industrialeconomy, this paper puts forward some countermeasures for the development ofthe innovative economy, including the self-organization of the market, thepromotion of the development of the learning mechanism, the construction of anew open economic system from the perspective of the free trade zone, theacceleration of the integration process of international free trade, and thepromotion of the steady and rapid economic development.

Keywords:Free trade zone; Industrial economy; Investment management