A meeting for interpreting the bonded bunker fuel mixing policies of the China (Zhejiang) Pilot Free Trade Zone is held in the zone on May 28. [Photo/zj.zjol.com] 

A meeting was convened in the China (Zhejiang) Pilot Free Trade Zone (FTZ) in Zhoushan, East China's Zhejiang province, on May 28, to interpret the zone's policies for bonded bunker fuel mixing businesses. 

Hosted by the administrative committee of Zhoushan Port Free Trade Zone and the Zhejiang Petrochemical Trading Center, the meeting was attended by more than 150 representatives from over 100 fuel suppliers, energy companies, traders and financial firms at home and abroad.

Conducting bonded bunker fuel mixing businesses is a major effort of Zhejiang FTZ to build a bunker fuel supply hub in Northeast Asia. The zone has handled the mixing of 820,000 metric tons of such fuel since 2018, accounting for 17 percent of its total fuel supply.

Zhoushan's bonded bunker fuel supply has increased from 665,000 tons in 2014 to nearly 3.6 million tons now. The city became one of the world's top 10 fuel supply ports last year.

In the first four months of the year, Zhoushan supplied a total of 1.2 million tons such fuel, up 17.1 percent from a year earlier.

The Zhejiang Petrochemical Trading Center located in Zhoushan now houses more than 1,200 member companies, with a total trade value of around 230.48 billion yuan.