Status and Potential of Development of the Henan’s Free Economic Zone in Central China

Purpose: The article analyzes the former experience of free economic zones creation in China, the development of the Henan free trade zone to briefly describe the functioning of the Henan free trade zone and examine the development prospects. Design/methodology/approach: The author analysis from two aspects: the purpose of the free trade zone and the advantages of the city where the free trade zone is located. At the same time, the comparison of historical data shows the role of free trade in the local economy and development direction. Demonstrated the role of free trade zones and the future development direction. Findings: The development prospect of Henan free trade zone is huge, which can not only improve the overall economic development of Henan, but also optimize the industrial structure of Zhengzhou, Kaifeng and Luoyang, and promote the diversified development of the three cities. Originality/value: The detailed and detailed analysis of the free trade zone policy and the potential value of the three cities. The article provides the government with a reference direction for economic development and also provides an investment direction for enterprises.