Free trade zone is a trade-oriented reform based on its functions and positioning by regional characteristics. To build free trade zones, China began to promote the reform of free trade zones, and since then various free trade zones have been established in succession. This paper is based on the effectiveness of the Liaoning Provincial Free Trade Zone and Shandong Provincial Free Trade Zone, from the three aspects of the Regional Comprehensive Economic Partnership’s national trade initiatives, cross-border funds facilitation of financial policies, and the East and West Avenue Golden Hub. According to analyzing and comparing the policy initiatives and the case effectiveness of the free trade zones in the two provinces which have similar target positioning and concerning the problems in the above three aspects, it is important to give three suggestions as follows. First, put forward a proposal to solve the problem of foreign investment enterprise. Second, expanding the trade scope of the Belt and Road. Third, opening up cross-border funds. And last, there are also some corresponding prospects about the above three problems.
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Xu et al. (2024) studied this question.
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