Zhoushan, located in East China's Zhejiang province, has recently released a detailed action plan to establish the first national bulk commodity resource allocation hub within the China (Zhejiang) Pilot Free Trade Zone.

The action plan outlines seven key focuses with 27 targeted tasks to create distinctive achievements that highlight Zhoushan's characteristics.

Establishing the bulk commodity resource allocation hub requires the creation of a storage and transportation base. The action plan aims to establish a storage base by supporting oil and gas pipeline networks and port infrastructure. It also focuses on encouraging financial support for these industries.

A foreign ship receives supplies at an anchorage in Zhoushan. [Photo/Tide News]

In maritime services, Zhoushan aims to enhance the development of international maritime service bases, becoming a bonded fuel oil bunkering center. It will focus on creating new models for bonded fuel oil bunkering, improving comprehensive anchorage maritime services, and developing maritime service industrial parks.

Zhoushan is also committed to advancing its commodity processing industry, improving trade ecosystems, and building a digital free trade zone. The plans include developing a specialized comprehensive bonded zone on Qushan Island and expanding commodity trading platforms.

Overall, Zhoushan will continue to prioritize institutional innovation to align with international trade standards and facilitate investments and trade in bulk commodities.