Financial institutions including Industrial and Commercial Bank of China, the Bank of China, China Construction Bank and Postal Savings Bank of China are set to provide Zhoushan with financial support worth 365 billion yuan in total over the next five years. [Photo/Zhoushan.cn]

Zhoushan reached cooperation framework agreements with six provincial financial institutions on June 22, according to local media reports.

According to the agreements, over the next five years, financial institutions including Industrial and Commercial Bank of China, the Bank of China, China Construction Bank and Postal Savings Bank of China will provide Zhoushan with financial support worth 365 billion yuan ($52.9 billion) in total. 

They will also offer one-on-one financial consulting and advisory services for local enterprises in key fields such as shipping, oil and gas, infrastructure construction and international bulk commodity trading. 

Yu Donglai, secretary of the CPC Zhoushan Municipal Committee, addressed the conference attended by officials from provincial financial authorities and representatives from financial organs at provincial and municipal levels.

Yu pointed out that Zhoushan needs financial support more than ever, and the city's development environment for the financial industry is better than ever.

He expressed hope that provincial financial authorities and financial institutions would step up support for the city's development, deepen practical cooperation and share development opportunities, adding that the local government will continue to optimize services and strive to set an example for win-win cooperation between financial institutions and local economies. 

Officials from provincial financial authorities and representatives from provincial financial institutions said they would further promote the accumulation and flow of abundant financial resources to Zhoushan to fuel the city's high-quality development and the construction of Zhejiang FTZ.