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

1: Free Trade Zone 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 exit freely without customs duties. In essence, it is a tariff segregation area adopting the free port policy. In a narrow sense, it only refers to areas that provide import duty-free goods such as raw materials needed for export processing in the region, similar to export processing zones. Broadly speaking, it also includes free ports and entrepot trade zones.

2: Special Economic Zone, the abbreviation of "Special Economic Zone". The central government gives the special economic zones the right to examine and approve imported 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 many other economic management rights, and gives many 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 and South echo, focusing on self-transformation and upgrading

4. Different missions-

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 with reference to Hong Kong, Macao and Taiwan;

free trade zone: benchmarking the big country economic model of the United States, Japan and Europe

6: focusing on different points-

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