Comparative Analysis of Locational Factors and Their External Influence on Free‐Trade Port Zones in China

Abstract

In the context of regional economic integration, free‐trade port zones (FTPZs) have become a powerful platform for attracting high‐quality international investment and promoting national economic development. It is worthwhile, then, to explore the hidden value of the locational factors of FTPZs in the process of their construction. Specifically, analyzing the key locational factors of FTPZs and their influences on the locational value can help to improve the ability of FTPZs to add value through factor congregation and further promote the development of regional economies. This study, therefore, analyzes the locational factors of the Shanghai and Ningbo‐Zhoushan free-trade ports using an econometric model. The corresponding external influences of locational factors are examined as well. The results show that regional economic development level, industrial structure, port and shipping system, capital accumulation, talent quality, institutional policies, market scale, market consumption potential, and market openness are the essential factors affecting the locational value of FTPZs. Based on our analysis and comparison of the location characteristics and locational value of the Shanghai and Ningbo‐Zhoushan free‐trade ports, three constructive suggestions are made to enhance the locational value of free‐trade ports based on the actual situation of the Ningbo‐Zhoushan free‐trade port. These suggestions can also maximize the value of free‐trade ports’ locations and promote high‐quality regional economic growth.