Home> Latest

Zhejiang FTZ makes outstanding achievements in 2020

chinadaily.com.cn| Updated: January 13, 2021 L M S


The China (Zhejiang) Pilot Free Trade Zone in Zhoushan makes some remarkable achievements in 2020. [Photo/WeChat account: china-zjftz]

The China (Zhejiang) Pilot Free Trade Zone in Zhoushan made some remarkable achievements in 2020, local media reported on Jan 12.

The Zhejiang FTZ was one of the main drivers of Zhoushan's economic growth last year, as it accounted for 50 percent, 75 percent, and 70 percent of the city’s total gross output among industries above designated size, foreign trade, and paid-in foreign capital, respectively.

A total of 7,357 companies started operating in the Zhejiang FTZ in 2020, including 1,880 oil and gas companies.

Trade of bulk commodities in the Zhejiang FTZ is expected to reach 655 billion yuan ($101.34 billion) in 2020, including 520 billion yuan in oil and gas.

The zone's oil product storage capacity totaled 29.07 million metric tons, and it is estimated to deliver 120 million tons of oil and gas last year.

In 2020, the Zhejiang FTZ supplied 4.72 million tons of bunker oil and it is expected to offer $2.4 billion in supplies to international ships. Cross-border renminbi settlements in the FTZ totaled 103 billion yuan in the same year, ranking second in the province.

Moreover, Zhejiang FTZ's trade in agricultural products is expected to reach 24 billion yuan and international ship repairs are expected to total 5.3 billion yuan last year. The number of internationals ships repaired in the FTZ accounted for nearly 40 percent of the national total and 20 percent of the global total in 2020.