The Zhoushan area of the China (Zhejiang) Pilot Free Trade Zone in East China's Zhejiang province saw a robust growth in online transactions of oil and gas products in the first 10 months of this year, with the transaction value hitting 111.31 billion yuan ($15.94 billion), a year-on-year increase of 130.6 percent, official statistics show.

During the same period, 1,482 oil and gas enterprises were established in the area, up 6.5 percent year-on-year. 

The supply of bunker oil in the area grew 11.3 percent year-on-year in the January-October period to 4.86 million metric tons. 

The area's oil refiners, petrochemical base and LNG terminals have also achieved their annual objectives ahead of schedule. 

As of the end of October, the construction of seven projects in the area had been completed. In addition, the construction of 13 projects had begun while the construction of 20 projects had been expedited. 

The area is expected to attract 42 billion yuan in investments for this year. 

One of the key reasons behind this boom is the establishment of the Zhejiang Mercantile Exchange, which serves as an important platform for building the area's oil and gas industrial chain. The exchange has been making efforts to provide premium services to oil and gas enterprises in terms of production, consumption as well as investment and financing. 

The exchange provides a platform through which suppliers and buyers can conveniently make bookings.

The exchange is currently home to 2,557 member corporations.