Ningbo recently unveiled a construction plan for the Ningbo area of China (Zhejiang) Pilot Free Trade Zone.

According to the plan, the Ningbo area is positioned to become an international shipping and logistics hub, internationally influential oil and gas resource distribution center, innovation center for international supply chains, global scientific innovation center for new materials, and a demonstration zone for intelligent manufacturing.

By 2025, the city aims to build a system centered on openness and a top-tier business climate.

The plan also has several specific goals, such as achieving an annual cross-border RMB settlement amount of 200 billion yuan ($30.77 billion).

Ningbo Zhoushan Port's annual container throughput is targeted to hit 32.7 million TEUs, while the figure for its oil and gas trade should reach 431 billion yuan.

The city has also set goals of increasing its imports and exports to 2 trillion yuan and lifting the output value of new materials sector to above 500 billion yuan.

The Ningbo area, covering a total area of 46 square kilometers, is composed of three sections: Daxie area (15.2 square meters), Meishan area (7.8 square meters) and Ningbo Free Trade Zone (17.8 suqare merers).

Daxie focuses on oil and gas, new materials and international shipping, Meishan is designed to be a global innovation hub for international supply chain, and Ningbo FTZ focuses on international trade and intelligent manufacturing.

（News from Zhejiang, China）