Git workflow to fork a local repository?

What's the git equivalent of the following svn workflow:

1. export foo

2. import bar

Is it the following?

1. checkout master

2. 开发者_JAVA百科

   tag foo

3. branch bar

It's simply creating a new repository with git init and then "git pull" the right branch from the other repository. You end up with a new repository containing only the one branch.