Zhoushan's investment promotion shows booming results

The city landscape of Zhoushan, East China's Zhejiang province [Photo/IC]

Investment promotion in Zhoushan, East China's Zhejiang province has achieved remarkable results over the past year, according to statistics recently released from the Investment Promotion Bureau of Zhoushan Archipelago New Area. 

The city received 45 billion yuan ($6.6 billion) of external investment last year and the actual inflow of foreign investment totaled $4.2 billion. 

In addition, it witnessed the registration of 10 projects by some of the Fortune Global 500 companies and the signing of another five. An additional 7,413 companies settled in the China (Zhejiang) Pilot Free Trade Zone (FTZ) in 2018.

The robust growth can be attributed to the local government's strengthened efforts in attracting external investment last year, especially through such major platforms as the second International Petroleum and Natural Gas Enterprises Conference, Boeing Suppliers Conference and Zhejiang (Zhoushan) Aviation Industry Development Conference. 

The branches of the Investment Promotion Bureau of Zhoushan Archipelago New Area in Beijing, Shanghai, Shenzhen and Hangzhou were put into operation last year, and a representative office of the bureau is under construction. 

This year marks the third year of the Zhejiang FTZ being in operation. To drive the high-quality development of the zone, the local government announced that it would further improve its investment promotion mechanism and direct investment to areas such as advanced manufacturing, high-tech, urban economy and modern services.