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Zhoushan area of Zhejiang FTZ boosts high-quality development

Updated : 2021-10-29 (chinadaily.com.cn)

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A ship docks at Zhoushan Port. [Photo/WeChat account: china-zjftz]

The development of the Zhoushan area of the China (Zhejiang) Pilot Free Trade Zone helped bolster the city of Zhoushan's high-quality development in the first three quarters of the year.

The Zhoushan area of the Zhejiang FTZ has taken measures to facilitate the investment and trade of bulk commodities, which have performed particularly well in storage, transportation, processing, and trade.

As of the end of September, its storage capacity of oil products totaled 29.73 million metric tons, 660,000 tons more than earlier this year.

In the first three quarters of the year, the unloading amount of liquefied natural gas reached 2.78 million tons, a year-on-year increase of 76.6 percent, while the output of crude oil processing and petroleum products manufacturing industries stood at 92.79 billion yuan ($14.51 billion), a year-on-year increase of 73.9 percent.

In the nine-month period, its trading volume of bulk commodities was valued at 654.23 billion yuan, a year-on-year increase of 34.7 percent, including 545.25 billion yuan of trading volume in oil and gas.

The Zhoushan area also rolled out measures to facilitate the supply of bunker oil, ensuring a stable increase in bunker oil supply. In the first nine months of the year, the bunker oil supply in the Zhoushan area increased 17.6 percent year-on-year to 3.83 million tons.

Bunker oil supply in the Zhoushan area drove the development of material supplies, ship maintenance, and ship trading in return. It offered $2.42 billion worth of material supplies to international ships, a year-on-year increase of 41 percent, repaired 1,340 international ships, and saw the trading of ships worth 5.15 billion yuan in the Jan-Sep period.