Cross-border RMB settlements in the Zhejiang FTZ jumped 367.5 percent year-on-year to 43.73 billion yuan in the first two months of this year. [Photo/WeChat account: china-zjftz]

The China (Zhejiang) Pilot Free Trade Zone in Zhoushan, East China's Zhejiang province, reported strong economic performance in the first two months of this year, local media reported on March 25.

A total of 1,338 companies registered in the Zhejiang FTZ during this period, a year-on-year increase of 103 percent and a 45.3 percent increase from the same period in 2019.

The figure accounted for 79.8 percent of all companies that registered in the city during that time, 3.4 percentage points higher than last year. These newly-registered companies included 243 oil product companies.

In addition, the Zhejiang FTZ offered 768,000 metric tons of bonded bunker oil, a year-on-year increase of 20.4 percent, its supplies to international ships surged 65.9 percent to $780 million, and it generated 950 million yuan ($145.21 million) in output of international ship repair, 48.4 percent higher than in 2019.

As of the end of February, the Zhejiang FTZ housed 71 banking institutions and its renminbi loan balance totaled 120.06 billion yuan, accounting for 41.1 percent of Zhoushan's total.

In the first two months of this year, the cross-border RMB settlements in the Zhejiang FTZ jumped 367.5 percent year-on-year to 43.73 billion yuan and cross-border RMB inflows soared 679.3 percent to 34.99 billion yuan.