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Ningbo to build expansion area for Zhejiang Pilot Free Trade Zone

The plan for the expansion area ofChina(Zhejiang) Pilot Free Trade Zone was released on September 21. According to the plan, the 46-kilometer expansion area in Ningbo will undertake the strategic functional orientation of “one hub, three centers and one demonstration zone”, namely, the international shipping hub, the three centers with international influence (the distribution center for oil and gas resources, the innovative center for international supply chain, and the global sci-tech innovation center for new materials), and the demonstration zone for the high-quality development of intelligent manufacturing.

Ningbo-ZhoushanPortis an important hub gateway for china's opening up. Reportedly, Ningbo will give full play to the “hardcore” role of the port, strengthen the linkage of the sea port, the airport, the inland port and the information port, improve the port’s intelligent infrastructure construction, and make efforts to develop such high-end shipping services as shipping finance and insurance, international marine affairs, and shipping trade and transactions. It will also build the high energy-level shipping service platforms, and construct

the globally first-class port with strong radiation and service functions as well as the important hub of the national comprehensive transportation system.

On this basis,Ningbo will develop with Zhoushan in a dislocated and integrated way. With the target requirement of “three 100 million tons” of Zhejiang Province, Ningbo will promote the whole industrial chain for oil and gas integrating production, storage and transportation, trade, and services. It will strengthen the green petrochemical industry, improve the storage and transportation scale of oil and gas, and build the new oil and gas trading center, and the distribution center for oil and gas resources that can meet the domestic demands, safeguard the energy security and manifest the international influence.

In order to adapt to the new changes in the global supply chain and industry chain and those of the international economic and trade pattern under the new situation, Ningbo will strengthen the new supply chain technology, trade logistics, modern finance and other innovative services, implement the “225” foreign trade double-trillion action, vigorously develop such new international trade fields as digital trade, service trade and offshore trade, and strive to build the innovation center of international supply chain featuring innovation, intelligence and efficiency, and strong radiation effect.

Meanwhile, by taking advantage of the new free trade zone and the trend of the new round of technological revolution and industrial changes, Ningbo will promote the globally coordinated research & development and open innovation of new petrochemical materials, electronic information materials and magnetic materials, strengthen the reforms on the gathering of innovative resources, the scientific and technological achievement transformation, the financial insurance innovation, and the intellectual property protection, build a global sci-tech innovation center for new materials, and promote the development of the hinterland industry towards the high end of the global value chain.

With the focus on manufacturing, especially the development of the “246” billion-level industrial clusters and the five emerging industrial clusters, Ningbo will strive to cultivate and develop a new economy characterized by new industrial patterns, new technologies and new models, promote the integration of manufacturing and service industries, and that of the real economy and virtual economy, and push the industrial development to a new level.

The expansion area in Ningbo will be located in Beilun District, where there are the five state-level development zones, including Ningbo Economic and Technological Development Zone, Daxie Development Zone, Ningbo Bonded Zone, Beilun Comprehensive Bonded Zone and Meishan Comprehensive Bonded Zone, four international container terminals, including the Beilun Port, the Chuanshan Port, the Daxie Port and the Meishan Port, and three specially supervised areas by the customs, including Ningbo Bonded Zone, Beilun Comprehensive Bonded Zone and Meishan Comprehensive Bonded Zone

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