Zhoushan hosts investment promotion conference in Shanghai

Authorities of Zhoushan, East China's Zhejiang province held a promotional event in Shanghai on April 27.

Deals for seven projects with a combined investment of 4 billion yuan ($579.21 million) were inked at the conference.

The projects, which are related to fields such as advanced manufacturing, downstream petroleum industry, and marine services, will play a key role in facilitating Zhoushan's transformation into a global resource allocation base for bulk commodities, said local authorities.

At the conference, authorities outlined their action plan to build functional islands for storage and transportation, processing, trading, and transactions of bulk commodities such as oil, LNG, agricultural products and non-ferrous metal over the next five years.

Authorities also established cooperative ties with Cushman & Wakefield, a UK real estate services firm, to attract more quality investments.

Representatives from more than 100 enterprises including Lanxess, Honeywell, and Huntsman attended the event.