The Zhejiang FTZ is expected to enjoy closer cooperation with Shanghai, Jiangsu, and Anhui. [Photo/WeChat account: china-zjftz]

Three achievements made by the China (Zhejiang) Pilot Free Trade Zone in Zhoushan have been shortlisted for the top 10 in the province, according to a press conference held on May 27.

The Zhoushan area of the Zhejiang FTZ has implemented three reforms in the oil and gas trade since March this year, including online transactions of bonded bunker oil that are priced in renminbi and initiated by overseas customers, a mid-long-term kerb transaction worth 14.35 million yuan ($2.25 million), as well as the establishment of a digital mobile terminal bidding procedure.

The Yangtze River Delta Pilot Free Trade Zones Alliance was established on May 10, with 10 institutional innovations being launched on the same day.

Zhoushan authorities published 70 measures to support the high-quality development of the Zhoushan area of the Zhejiang FTZ, as well as released fault-tolerant measures to support reform and innovation in the Zhoushan area.

The press conference also revealed that in the future, the Zhejiang FTZ will work closely with Shanghai, Jiangsu, and Anhui.

They will promote mutual recognition of customs supervision, advance coordinated development among ports, explore financial innovation and coordinated development of industries, as well as create a world-class business environment.