Zhejiang FTZ starts national survey for building intl oil trading center

A research group from the China (Zhejiang) Pilot Free Trade Zone (FTZ) meets with authorities from North China's Liaoning province to study advanced experiences in FTZ development. [Photo/zj.zjol.com] 

A research group from the China (Zhejiang) Pilot Free Trade Zone (FTZ) visited North China's Liaoning province from May 6 to 8 as the first stop of the zone’s national survey for the project of deepening its construction of an international oil trading center.

They investigated the Liaoning FTZ and the Dalian Commodity Exchange.

The project, led by the provincial government of Zhejiang, aims at studying advanced experiences of international and domestic exchanges and trade centers to shed light on the construction of an international oil trading center in the Zhejiang FTZ.

The Zhejiang Petrochemical Trading Center in Zhoushan will participate in the whole national survey. 

As a major player in the oil trading center construction, Zhejiang Petrochemical Trading Center has been committed to exploring a commodity trading market model that both conforms to international rules and features Chinese characteristics to better serve China's real economy and enhance its global oil resource allocation. 

The oil trading center construction in the Zhejiang FTZ has been in full swing since it was approved by the provincial government on Sept 3, 2018, with steady progress being made in investor introduction, new transaction system R&D, integrated service system building, and domestic and international cooperation.