Putuo Financial Town supports Zhejiang FTZ's gas, oil industrial chain

Zhejiang Airport Finance Leasing Co Ltd in Putuo Financial Town, Zhoushan, East China's Zhejiang province, decided to offer 200 million yuan ($29.72 million) in support of a liquefied natural gas (LNG) project being carried out in the China (Zhejiang) Pilot Free Trade Zone (FTZ), local media reported on Oct 27.

This marked an expansion in the financial support from Putuo Financial Town to the development of the gas and oil industrial chain in the Zhejiang FTZ.

Zhejiang Airport Finance Leasing Co Ltd began operating in the town in 2018 and has created the first aircraft engine leasing business in Zhejiang and launched more than 2 billion yuan of financial capital.

Wen Shu, an employee at the company, revealed that his company has also decided to provide 200 million yuan for infrastructure construction on Jintang Island, the fourth largest island of the Zhoushan Archipelago, and has agreed to finance an oil and gas project in Daishan county.

Established in September 2019, Putuo Financial Town is currently home to 125 finance leasing companies (one fourth of the total in Zhejiang), and has offered services to more than 5,000 companies in the province.

This year alone, the town has brought in 113 companies, or 753 percent of its annual target, and 2.08 billion yuan in investment from outside of the city, or 416 percent of its annual goal.