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Zhoushan makes progress in building free trade zone

Updated : 2023-02-03 (

The Zhoushan area of the China (Zhejiang) Pilot Free Trade Zone made remarkable achievements in 2022. 

The area made significant progress in building the oil and gas industrial chain. As of the end of 2022, the area received 8 million metric tons of LNG a year, a year-on-year increase of 60 percent, official statistics show. 

The area added 2,432 oil and gas enterprises last year and it is currently home to 11,735 such companies. 

Crude oil processing and petroleum products companies generated an annual output of 229.78 billion yuan ($33.82 billion) in 2022, while the area's online gas and oil transactions were valued at 121.99 billion yuan, up 65.3 percent and 90.1 percent year-on-year respectively. 

The area's marine service industry saw robust growth last year, with the Zhoushan Port ranked as the fifth-largest bunkering port in the world. The port supplied 6.02 million tons of oil that year, a year-on-year increase of 9.1 percent. 

As of the end of 2022, the area had 85 bunkering vessels, up 30.3 percent year-on-year. 

The area's foreign trade stood at 302.18 billion yuan last year, a year-on-year increase of 54.9 percent, while its actual use of foreign capital hit $270 million, accounting for 58.2 percent of the city's total.

The cargo throughput of the area in 2022 was 265.81 million tons, a 0.3 percent increase compared with 2021.

The area's cross-border renminbi settlement totaled 24.97 billion yuan while the value of cross-border renminbi settlement for bulk commodities was 5.41 billion yuan.