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Zhoushan rolls out measures to further develop FTZ

Updated : 2021-05-17 (chinadaily.com.cn)

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Zhoushan publishes measures to boost the development of the China (Zhejiang) Pilot Free Trade Zone in the city. [Photo/WeChat account: china-zjftz]

Zhoushan in East China's Zhejiang province recently published measures to boost the development of the China (Zhejiang) Pilot Free Trade Zone in the city, local media reported on May 14.

In terms of convenient investment and free trade in bulk commodities, the Zhoushan area of the Zhejiang FTZ will further its reform for the over-the-counter trading system and improve the level of free trade.

In terms of fostering a more attractive development environment for professionals, the Zhoushan area will loosen its restrictions on workers in the modern service industry, make it easier for overseas students to work in the city, and provide green channels to overseas professionals working and starting a business in Zhoushan.

In terms of international investment, the area will enhance the construction of investment promotion institutions, organize investment attraction activities, and issue more incentive measures to encourage investment attraction.

In terms of fiscal, tax and financial support, the Zhoushan area will increase its financial support, encourage cross-border financial business, strengthen the flexible use of cross-border capital, and expand the scale of direct financing in key industries.

In terms of land utilization, the area will improve the plot ratio of industrial land and encourage land saving and intensive use.

These measures highlight the Zhoushan government's support of the oil and gas industry's development in the FTZ's Zhoushan area.

They also include reform in oil reserve, support of the expanded business area of bonded oil suppliers, as well as the integration and optimization of petrochemical bases.