Four innovative practices implemented by the China (Zhejiang) Pilot Free Trade Zone are being promoted nationwide. [Photo/WeChat account: china-zjftz]

The China (Zhejiang) Pilot Free Trade Zone, which is mostly located in Zhoushan city in East China's Zhejiang province, is seeing an ever-improving business ecosystem, local media reported on Dec 16.

According to international accounting and financial services provider KPMG, the agency ranked the business environment for cross-border trade in the Zhejiang FTZ as equivalent to the Shanghai FTZ.

Local officials said that its four innovative practices have been promoted nationwide.

Data about ships transferring to other ports are now being reused by the receiving port, which reduced the number of reporting data streams from vessels from 338 to 57.

Officials said Zhoushan also shares real-time data with Ningbo in Zhejiang and Zhangjiagang in Jiangsu, so as to reduce the time needed for ships to pass through customs from over one hour to just five minutes.

They said the Zhoushan shipping and port administration's proposal about further improving its single window system for international trade has been adopted by the national port office.

The Zhoushan administration is suggesting reducing four application forms for the single window system to one, which can be reviewed by customs, border controls and the maritime affairs departments.

Officials said imported crude oil can now be unloaded and transported at Zhoushan Port before a thorough examination by Zhoushan Customs, greatly reducing customs clearance times, costs and improving Zhoushan Port's operational efficiency.

They said that in October, Zhoushan Port received 4.24 million metric tons of crude oil, a year-on-year increase of 41.3 percent.