Zhejiang FTZ seeks investment in Beijing

An overseas business representative attends a promotional activity held by the China (Zhejiang) Pilot Free Trade Zone in Beijing on Aug 23. [Photo/zj.zjol.com]

The China (Zhejiang) Pilot Free Trade Zone recently held a promotional event in Beijing to seek investment. 

Nearly 100 overseas business representatives from Fortune Global 500 companies in more than 10 countries, including BP, Shell, Exxon Mobil and IBM, attended the meeting, along with over 100 Chinese executives from leading domestic enterprises.

Hosted by the provincial office in charge of FTZ affairs and the administrative committee of Zhejiang FTZ, the event aimed to promote Zhejiang FTZ industries to companies at home and abroad and attract more investment to boost local development.

Zhejiang FTZ is mostly characterized by its oil and gas industrial chain, said local authorities at the meeting, who also sent an invitation to guests to attend the third International Petroleum and Natural Gas Enterprises Conference (IPEC), which will be held in Zhoushan on October 18.

Nineteen of Zhejiang FTZ's key projects, focusing on oil, liquefied natural gas, port, aviation, and agricultural products, among other things, were introduced.

Established in Zhoushan on April 1, 2017, Zhejiang FTZ has been prioritizing investment and trade within the oil and gas industry. It now houses the nation's most oil companies, at 4,279, and is among the world's top 10 ports for bunker fuel, providing more than 30 percent of the nation's total supply. 

Forty-five large-scale projects worth 223 billion yuan ($31.15 billion) were signed at the two IPEC meetings previously held in the zone.