Zhoushan in East China's Zhejiang province marked the first anniversary of its designation as the main hub for China's bulk commodity resource allocation on Nov 8, showing remarkable progress in infrastructure, trade capacity, and institutional innovation.
From January to September, the city recorded an oil storage capacity of 38.18 million cubic meters, a liquefied natural gas receiving volume of 11.5 million metric tons, an iron ore throughput of 136.47 million tons, and a total bulk commodities trade value of 690 billion yuan ($96.91 billion).
An aerial view of the entry and exit of Zhoushan area of China (Zhejiang) Pilot Free Trade Zone. [Photo/China (Zhejiang) Pilot Free Trade Zone]
Over the past year, Zhoushan has completed more than 20 reform outcomes across 199 key projects, translating the hub blueprint into reality. The Shulanghu ore terminal in Daishan county achieved full remote-control operation for unloading and loading processes, both exceeding 80 percent, making it the world's first automated 400,000-ton dual-berth bulk terminal in regular operation.
In the first three quarters, Zhoushan handled 838.74 million tons of cargo, up 2.8 percent year-on-year. Bonded storage capacity exceeded 22 million cubic meters after major warehouse expansions, and bonded fuel oil supply reached 6.06 million tons, an increase of 11.7 percent, as new policies boosted efficiency in bonded storage, LNG bunkering, and digitalized customs processes.
An aerial view of the Zhoushan LNG Receiving and Bunkering Terminal. [Photo/China (Zhejiang) Pilot Free Trade Zone]
Zhoushan also advanced industrial integration, extending its green petrochemical and new materials chains, with seven major high-end materials projects signed over the past year. The Zhoushan Green Petrochemical Base now has an annual refining capacity of 40 million tons and an ethylene production capacity of 4.2 million tons.
An aerial view of Zhoushan Green Petrochemical Base. [Photo/China (Zhejiang) Pilot Free Trade Zone]
By 2027, Zhoushan plans to build oil and gas storage island clusters, attract global traders, and develop a world-class commodities trading center with an annual output exceeding 600 billion yuan.
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