The first Boeing 737 MAX aircraft to be delivered to Air China from the Boeing 737 Completion and Delivery Center in Zhoushan, East China's Zhejiang province arrives at the city's Putuoshan Airport on Nov 9, 2018. [Photo/IC] 

The government of Zhoushan, East China's Zhejiang province held a meeting on March 7 to lay out this year's plan for investment attraction and the construction of major projects. 

According to the plan, the city aims to introduce at least 50 billion yuan ($7.45 billion) of investment from beyond the city, including $500 million of foreign investment, $250 million of which will be set aside for the development of the China (Zhejiang) Pilot Free Trade Zone (FTZ), and realize at least 1 billion yuan of tax revenue from local companies registered since 2018. 

The city plans to see the signing of 30 new major projects this year and the construction and operation of 20 existing projects, including its Green Petrochemical Base, Boeing 737 Completion and Delivery Center, Ningbo-Zhoushan Railway, Yushan Bridge and Xiushan Bridge.

The Yushan Bridge connecting Zhoushan's Yushan Island and Daishan Island is completed on Dec 31, 2018 after 27 months of construction. [Photo/IC]

It will focus on attracting investment in the advanced manufacturing, high-tech, urban economy and modern service industries, as well as some characteristic industries of Zhejiang FTZ such as oil and gas. 

Specifically, it will introduce petrochemical, aviation, new materials and marine electronic information projects to progress its manufacturing sector, introduce projects on oil and gas storage and transportation, bunkering and low-sulfur fuel production, shipping logistics and foreign vessel supply to develop a whole industrial chain of oil and gas in the Zhejiang FTZ. 

It will also push forward the construction of an international agricultural product trade center, and strengthen development in its culture, tourism, finance, commerce, education, and healthcare sectors.