Analysis On The Constituent Dimensions And Influencing Factors Of Business Environment In Hebei Pilot Free Trade Zone

The establishment of the Pilot Free Trade Zone(FTZ)is an important initiative of the Party Central Committee and the State Council to accelerate the pace of reform and opening up,based on the overall situation at home and abroad,and in line with the global economic development trend.After China’s economy has entered a new normal,due to the complex and changing social and economic environment,China is under tremendous pressure to slow down its economic growth and urgently needs to find new impetus,and the FTZ policy is highly valued as a strategic deployment tailored to a new pattern of comprehensive opening up.The China(Hebei)Pilot Free Trade Zone was officially inaugurated on 30 August 2019.Hebei Province is the core region for the integrated development of Beijing,Tianjin and Hebei,and the establishment of a good business environment is very important for boosting investment,activating the market and invigorating the economy.In recent years,the business environment has received increasing attention from the international community,and increasingly reflects the economic soft power of a country.Creating a good business environment plays a vital role in the normal operation of enterprises.Currently,the optimising business environment as a major objective of FTZ construction has attracted a great deal of attention from academics.In recent years,China has made fruitful achievements in optimising and improving the business environment for SMEs.The fact that China’s business environment is now among the top 40 in the world is an indisputable indication of the Chinese government’s strong focus on promoting transparency and facilitation of the business environment.This article focuses on the business environment of the Hebei Pilot Free Trade Zone,which comprises four areas,namely Xiong’an,Zhengding,Caofeidian and Daxing Airport,from the perspective of their composition and influencing factors.This paper uses four areas in the Hebei Free Trade Zone as samples.After collecting relevant information,we apply the method of rooting theory to first-order concept coding and second-order concept coding to the data of the four zones,and use aggregated dimensional coding to analyse the constituent dimensions and influencing factors of the business environment in the Hebei Free Trade Zone.The dimensions include rule of law,internationalisation and facilitation,while the influencing factors include hinterland economy,infrastructure conditions and science and technology innovation.Then,based on the final results of the study,this paper proposes that further evaluation indicators should be added to improve the evaluation system of China’s business environment,taking into account the World Bank’s business environment evaluation system.