Focusing on the construction of a bulk commodity resource allocation hub, Zhejiang has achieved more than 70 first-in-class results

China News Service, Ningbo, November 12th (Lan Yini) On November 12th, a press conference on the construction of a commodity resource allocation hub in the China (Zhejiang) Free Trade Pilot Zone (hereinafter referred to as the "Zhejiang Pilot Free Trade Zone") was held in Ningbo, Zhejiang. At the meeting, the construction status of the country's first commodity resource allocation hub since its launch in Zhejiang was introduced.

In the past two years, Zhejiang has anchored on the core goal of building "three bases and two centers" and accelerated the refinement of tasks into measures, implementation into projects, and transformation into actual results. In the past two years, the Zhejiang Pilot Free Trade Zone has focused on key areas such as underground space rights confirmation and registration, green ship fuel refueling, smart customs clearance supervision, and cross-border factor flow, and has produced more than 70 first-of-its-kind results at or above the provincial level.

It is reported that Zhejiang is rolling out 48 major projects, with a total investment of 100.43 billion yuan completed by the end of September, and the storage, transportation and processing energy level has achieved a new leap. Storage, transportation, processing, and infrastructure projects in multiple fields such as the Sino-Ao Wanda Oil Products Storage and Transportation Logistics Base, Zhejiang Petrochemical High-end New Materials, and the Second Phase of the Zhenhai Green Petrochemical Base are advancing in an orderly manner, adding 22 million tons of iron ore blending capacity, 15 million tons of refining capacity, and 9.5 million tons of LNG receiving capacity.

Zhejiang has also continued to improve the level of its platform and achieved new breakthroughs in its opening capabilities. The country's first comprehensive bonded area expansion featuring bulk commodities has been approved by the State Council and has now entered the sprint stage of declaration for customs closure; the Zhejiang International Commodity Trading Center has added a number of new bulk trading varieties such as non-ferrous metals and ferrous metals for registration, and the number of medium-sized trading varieties has reached 24; Zhejiang has accelerated the construction of a global ship fuel bunkering center. From January to September this year, the bonded bunker bunkering volume reached 7.048 million tons, ranking second in the world.

At the same time, the industrial chain ecology of Zhejiang’s bulk commodity trade has been newly optimized. Data show that in the first three quarters of this year, Zhejiang’s cross-border revenue and expenditure for offshore resale transactions reached US$23.6 billion, a year-on-year increase of 11%. The province has guided financial institutions to step up support for hub construction. In the past two years, the scale of new credit, insurance and other funds used to support the bulk commodity sector has exceeded 130 billion yuan.

In the past two years, focusing on the goals of original and integrated reforms, a number of breakthrough and leading institutional innovations in various fields have emerged in Zhejiang.

For example, in terms of trade transactions, Zhejiang Innovation has released the "Zhoushan Price" index matrix such as fuel oil bonded ship supply quotation, raw magnesium ingot spot price, LNG storage index, etc., continuing to increase its market influence; in terms of maritime services, it has launched the country's first marine biofuel oil blending and blending pilot, forming the world's first green ammonia ship-to-ship bunkering, and Zhejiang Province's first ship-to-ship bonded Green transformation achievements such as green methanol filling; in terms of standard leadership, the country's first international certification pilot for green ship repair was launched, and a standardized and international "Zhejiang Plan" was provided for domestic and foreign green ship repair; in terms of data circulation, the company was the first to introduce a negative list for data export in the bulk commodity field, clarifying seven specific scenarios such as bulk commodity sales and bulk trade digital services.

It is understood that Zhejiang will continue to deepen the construction of a bulk commodity resource allocation hub focusing on three aspects: storage, transportation, processing, trade transactions, and business environment.