Yonggang Resource Co Ltd recently established itself in the Yangshan Free Trade Zone in the Lin-gang Special Area – located in East China's Shanghai city – with registered capital of 100 million yuan ($15.47 million).

Yonggang Resource is part of the Jiangsu Yonggang Group Co Ltd – a top 100 private enterprise in China.

Operating in the fields of ferrous metals, non-ferrous metals, energy and chemicals, Yonggang Resource focuses on financial instruments and commodities trading. It aims to build a new type of commodity trading and investment venture that is more closely related to China's development.

The Yangshan Free Trade Zone – the only of its kind under the special supervision of the customs department in China – has reportedly played a leading role in accelerating the building up and development of the bulk commodities trading industry.

The zone has moved to provide a better ecosystem for bulk commodities trading and has attracted more than 300 commodity related firms to move there – including Mercuria Energy Trading, Trafigura Group Pte Ltd and the Gunvor Group.

As a result, the annual trading volume of the Yangshan Free Trade Zone is currently estimated to top 200 billion yuan.

It has reportedly established an international spot commodities trading center, an international allocation and distribution center, an international financial leasing trading center and an offshore trade innovation and development practice zone.