April 1 marked the ninth anniversary of the China (Zhejiang) Pilot Free Trade Zone. In the Zhoushan port area, a focus on systemic reform and trade facilitation has transformed the area from a full-industry-chain oil and gas base into a comprehensive commodity hub.
Over the past nine years, Zhoushan has registered 367 institutional innovations, including 164 national firsts and 32 adopted nationwide. Key infrastructure achievements include the country's largest oil storage and transportation base, the largest single-unit petrochemical facility, and the country's leading oil and gas trading port. Oil storage capacity rose from 20.49 million cubic meters in 2017 to 38.18 million cu m in 2025, while crude processing volume increased from 4.695 million metric tons to 43.67 million tons, an 8.3-fold growth.
Zhoushan has also advanced digital and standardized management in the oil storage sector, pioneering local regulations and integrated supervision to improve operational efficiency and competitiveness. Large-scale projects, such as the green petrochemical base, have further strengthened the port area's industrial foundation, bolstering energy security and high-value chemical production.
Progress in trade and finance has been equally notable. Commodity trade grew from 185.3 billion yuan ($26.9 billion) in 2017 to 941.75 billion yuan in 2025, while oil trade volume expanded from 65.76 billion yuan to 836.21 billion yuan. Cross-border RMB settlements increased from 3.3 billion yuan to 125.85 billion yuan.
Ship fueling and maritime services have also scaled up, with reforms such as e-BDN electronic bills and low-altitude transport logistics reducing vessel waiting times and operating costs.
With these achievements, the Zhoushan port area has become a national model for commodity trading and maritime services. Moving forward, the area will continue to deepen systemic openness, optimize trade and investment processes, and promote high-quality regional development.
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