Tianjin

Tianjin ([tʰjɛ́ntɕín]; Chinese: 天津; Tianjinese: /tʰiɛn˨˩tɕin˨˩/~[tʰjɛ̃̀ɦɪ̀ŋ]; postal: Tientsin) is a metropolis in coastal northeastern China and one of the five national central cities of China, with a total municipal population of 15,200,000. It is governed as one of the four direct-controlled municipalities of the PRC and is thus under direct administration of the central government. Tianjin borders Hebei Province and Beijing Municipality, bounded to the east by the Bohai Gulf portion of the Yellow Sea. Part of the Bohai Economic Rim, it is the largest coastal city in northern China.

In terms of urban population, Tianjin is the fourth largest in China, after Shanghai, Beijing, and Guangzhou. In terms of administrative area population, Tianjin ranks fifth in Mainland China. The walled city of Tianjin was built in 1404. As a treaty port since 1860, Tianjin has been a major seaport and gateway to the nation's capital. During the Boxer Rebellion the city was the seat of the Tianjin Provisional Government. In the period of late Qing dynasty and the Republic of China, Tianjin became one of the largest cities in China. At that time, numerous western-style buildings and mansions were constructed in concessions, many of which are well-preserved today. After the founding of the People's Republic of China, Tianjin suffered a depression due to the policy of the central government and Tangshan earthquake, but recovered from 1990s. Nowadays Tianjin is a dual-core city, with its main urban area (including the old city) located along the Hai River, which connects to the Yellow and Yangtze Rivers via the Grand Canal; and Binhai, a New Area urban core located east of the old city, on the coast of Bohai Sea. As of the end of 2010, around 285 Fortune 500 companies have set up base in Binhai, which is a new growth pole in China and is a hub of advanced industry and financial activity.

China

China, officially the People's Republic of China (PRC), is a sovereign state in East Asia. It is the world's most populous country, with a population of over 1.35 billion. The PRC is a one-party state governed by the Communist Party, with its seat of government in the capital city of Beijing. It exercises jurisdiction over 22 provinces; five autonomous regions; four direct-controlled municipalities (Beijing, Tianjin, Shanghai and Chongqing); two mostly self-governing special administrative regions (Hong Kong and Macau); and claims sovereignty over Taiwan.

Covering approximately 9.6 million square kilometers, China is the world's second-largest country by land area, and either the third or fourth-largest by total area, depending on the method of measurement. China's landscape is vast and diverse, ranging from forest steppes and the Gobi and Taklamakan deserts in the arid north to subtropical forests in the wetter south. The Himalaya, Karakoram, Pamir and Tian Shan mountain ranges separate China from South and Central Asia. The Yangtze and Yellow Rivers, the third- and sixth-longest in the world, run from the Tibetan Plateau to the densely populated eastern seaboard. China's coastline along the Pacific Ocean is 14,500 kilometres (9,000 mi) long, and is bounded by the Bohai, Yellow, East and South China Seas.

Free trade

Free trade is a policy followed by some international markets in which countries' governments do not restrict imports from, or exports to, other countries. Free trade is exemplified by the European Economic Area and the North American Free Trade Agreement, which have established open markets. Most nations are today members of the World Trade Organization (WTO) multilateral trade agreements. However, most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or subsidies to exports. Governments may also restrict free trade to limit exports of natural resources. Other barriers that may hinder trade include import quotas, taxes, and non-tariff barriers, such as regulatory legislation.

Features of free trade

Free trade policies generally promote the following features:

Free trade zone

A free trade zone (FTZ) is a specific class of special economic zone. They are a geographic area where goods may be landed, handled, manufactured or reconfigured, and reexported without the intervention of the customs authorities. Only when the goods are moved to consumers within the country in which the zone is located do they become subject to the prevailing customs duties. Free-trade zones are organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. It is a region where a group of countries has agreed to reduce or eliminate trade barriers. Free trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products.

Synonyms

FTZs are referred to as "foreign-trade zones" in the US (Foreign Trade Zones Act of 1934). In the United States, FTZs provide Customs-related advantages as well as exemptions from state and local inventory taxes. In other countries, they are called "special economic zones" or "free zones" and were previously called "free ports" or "export processing zones". Free zones range from specific-purpose manufacturing facilities to areas where legal systems and economic regulation vary from the normal provisions of the country concerned. Free zones may reduce taxes, Customs duties, and regulatory requirements for registration of business. Zones around the world often provide special exemptions from normal immigration procedures and foreign investment restrictions as well as other features. Free zones are intended to foster economic activity and employment that could occur elsewhere. Farole, Akinci, ed., "Special Economic Zones: Progress, Challenges and Future Directions, World Bank, 2011.

Michael Hart

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