Hu Le, general manager of Zhoushan-based Wuyue Ship Technology Co Ltd. [Photo/WeChat account: zjzsrbs]

Zhoushan is a good city for both living and starting a business, according to Hu Le, general manager of Zhoushan-based Wuyue Ship Technology Co Ltd.

In 2016, Hu started a business in the city after his project on intelligent management of valves won the first Zhoushan Marine Economy Entrepreneur Competition.

The valve industry is an important supporter of the petrochemical and shipbuilding industries and Zhoushan is home to the largest-scale green petrochemical base in the world, as well as a flourishing shipbuilding industry.

"The output of the valve industry in China is valued at 50 billion yuan ($7.46 billion), but there're not many after-sales service suppliers in China," said Hu.

In the first three years of his entrepreneurial life, Wuyue did not perform well, and with no assets to be mortgaged it was impossible to get loans.

With help from the local government departments of talent and science, the Zhoushan branch of China Construction Bank visited Hu to offer him financing services and helped him get through the difficult times.

With support from the local government and a bank, Hu is now confident of the development of his company in Zhoushan.

With the influx of energy companies in Zhoushan after 2019, Hu's company started prospering. Wuyue has now established cooperative relations with a number of shipyards and energy suppliers in Zhoushan, including top companies such as Zhejiang Petroleum and Chemical Co Ltd and ENN.

In Hu's eyes, Zhoushan also has a much better living environment than other Chinese cities due to its fresh air and numerous parks and greenways.