As a key part of China (Zhejiang) Pilot Free Trade Zone, Zhoushan port area has been making the most of its free trade platform to establish itself as a new hub for bulk commodity resource allocation, continuously advancing high-level opening-up.

Under the impetus of key opening-up platforms, Zhoushan's total import and export volume reached 281.3 billion yuan ($38.84 billion) in the first three quarters of this year, a year-on-year increase of 6.3 percent.

The Zhejiang Mercantile Exchange has been further integrating the futures and spot markets for oil and gas in the Yangtze River Delta region. The industrial service base has been expanded, completing Zhejiang's first oil storage capacity trading business.

The Zhoushan – Chongqing river-sea direct route is launched. [Photo/wifizs.cn]

Zhoushan has been building an international maritime service base. The city was selected as a national pilot for the promotion and application of biodiesel, piloting the development of green and clean biomass energy. Zhoushan has launched the new Zhoushan – Chongqing river-sea direct route.

The city is working towards building a world-class green petrochemical industrial base, while accelerating key projects such as the Jintang New Materials Industry Park.

Zhoushan has been making good use of the pilot policy for the facilitation of cross-border renminbi settlement in oil trade. In the first half of this year, the city's cross-border RMB settlement amounted to 62.49 billion yuan, a year-on-year increase of 52.9 percent.