Putuo Finance Town in Puotuo district, Zhoushan, East China's Zhejiang province, introduces investment funds of 2.08 billion yuan ($300.47 million) in the first seven months of this year. [Photo/WeChat account: china-zjftz]

Putuo Finance Town in Putuo district in the city of Zhoushan in East China's Zhejiang province had had major success in attracting investment funds of 2.08 billion yuan ($300.47 million) in the first seven months of this year, according to local media reports.

Local officials said that figure represents 260 percent of its full-year target in attracting investment funding.

They said Putuo has in the year to date attracted 27 financial companies to settle there, including five that were introduced to it at a recent investment promotion held in Hangzhou, capital city of Zhejiang.

Putuo Finance Town -- the only area in Zhejiang to explore financial leasing and commercial factoring -- has seen robust development in financial leasing in recent years, with a total of 139 companies engaged in financial leasing there.

Based on the oil and gas storage and transportation trading, air shipping and health tourism industries in Zhoushan, the finance town has created a financial industry ecosystem that focuses on financial leasing, private equity and commercial factoring.

It currently houses more than 200 financial companies involved in equity investment, mortgages, insurance, funds and financial leasing and has more than 120 financial projects under construction.