A view of Zhoushan Port in East China's Zhejiang province. [Photo/Zhoushan Daily]

The Zhoushan area of China (Zhejiang) Pilot Free Trade Zone in Zhoushan, East China's Zhejiang province, has made remarkable achievements in its economy in the first half of this year.

From January to June, the actual utilization of foreign capital in the Zhoushan area reached $210 million, and the total volume of import and export reached 117.5 billion yuan ($17.51 billion), official statistics show.

During the same period, the transaction volume of online oil and gas trading amounted to 10.33 million metric tons, up 262.42 percent year-on-year, while the online transaction value totaled 62 billion yuan, a year-on-year growth of 221.2 percent.

The crude oil processing volume was 17.88 million metric tons, up 29.3 percent year-on-year, with the combined output value being 116 billion yuan, a year-on-year growth of 78.2 percent.

The Zhoushan area has implemented a series of measures to promote the development of major projects including the Zhejiang International Oil and Gas Trading Center Co Ltd, an oil and gas storage base, a petrol chemical industry base and a marine services base.

In addition, the Zhoushan area has been making efforts to advance the construction of the demonstration zone for the cross-border renminbi settlement for bulk commodity.