Putuo district in Zhoushan publishes measures to promote the construction of a pilot free trade zone and a marine industry hub with financial support. [Photo/WeChat account: china-zjftz]

Putuo district in Zhoushan, East China's Zhejiang province recently published measures to promote the construction of a pilot free trade zone (FTZ) and a marine industry hub with financial support, local media reported on May 20.

These measures cover nine aspects, including sound monetary policy, financing institution facilities, cross-border renminbi business, and the piloting of the China (Zhejiang) Pilot Free Trade Zone's foreign exchange supporting policies.

The head of the Putuo district branch of People's Bank of China (PBOC) said that they will support the development of finance leasing, commercial factoring, and financing assurances, as well as make full use of its customer resources to help Putuo attract investment.

"We will carry out cross-border RMB settlement and foreign exchange supporting policies for free trade zones in Putuo," said the head of PBOC's Putuo district branch.

In addition, these measures also encourage financial institutions to focus on the challenges encountered by the petrochemical, shipping, and fishery industries in carbon emissions, to increase financial support for equipment upgrading, technological innovation, and new material application, as well as to offer green companies financing assurances.