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The Ningbo Area of Zhejiang Pilot Free Trade Zone Officially Opened

On September 24, the Zhejiang Provincial Party Committee and the Provincial Government held the opening ceremony of the expansion area of the China (Zhejiang) Pilot Free Trade Zone at the Great Hall of the People of Zhejiang Province. The three new areas of the Zhejiang Pilot Free Trade Zone, namely, Ningbo, Hangzhou, and Jinyi, were officially unveiled.

 After being granted greater autonomy in reforms in March 2020, the Zhejiang Pilot Free Trade Zone ushered in the successful approval of the expansion of the zone, marking that the Zhejiang Pilot Free Trade Zone has entered a new stage and officially opened the prelude to the construction of the Pilot Free Trade Zone version 2.0.

 According to the expansion plan, the Ningbo area of the Zhejiang Pilot Free Trade Zone has a total area of 46 square kilometers, focusing on the supply chain innovation and application, emphasizing the construction of the bulk commodity trade, bonded trade, financial technology, biomedicine and other industries, so as to build an international shipping hub that links internal and external, multimodal transportation, strong radiation, and chain clusters.

 The Ningbo area will also deepen economic and trade cooperation with Central and Eastern Europen countries, promote the construction of the "17+1" economic and trade cooperation demonstration zone with high quality, and build an internationally influential oil and gas resource allocation center, an international supply chain innovation center, a global new material science and technology innovation center, and a demonstration zone for high-quality development of intelligent manufacturing.

 At the site of the opening ceremony, the first batch of 10 enterprises settled in the extended area of the Zhejiang Pilot Free Trade Zone accepted the license. Among them, a total of 3 enterprises in Ningbo area settled in the first batch. They are: Ningbo Zhidu Zhilun Technology Co., Ltd., whose main business is digital economy; Zhongrong Energy Sales Co., Ltd., whose main business is the allocation of international oil and gas resources; Zhejiang Ganglianjie Logistics Technology Co., Ltd., whose main business is shipping Logistics.

 After the expansion, the reform connotation of the Zhejiang Pilot Free Trade Zone has been comprehensively expanded, and the level of opening up has been significantly improved, which is more conducive to the province's promotion of deeper reforms and higher levels of opening up, providing a strong impetus for building a new development pattern. In the next step, Zhejiang will study and introduce a series of policies and measures to support the development of the pilot free trade zone, and strive to become a demonstration zone that fully demonstrates the superiority of the socialist system with Chinese characteristics in the new era

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