Business / Economy

Silk Road on the sea revitalizes livelihoods

By Wu Yiyao in Shanghai (China Daily) Updated: 2014-03-10 07:09

The Zhoushan Port Comprehensive Bonded Zone started operations of its first-phase project on Jan 8. Provided to China Daily

Clean air, robust marine economy to fuel Zhoushan's free trade zone

Huge crowds and busy days were something that the 25-year-old Zhu Meifang had not envisaged when she took up employment at the Starbucks outlet in Zhoushan Islands New Area last year.

But with a steady stream of investors and visitors coming in after the Zhoushan Port Comprehensive Bonded Zone said on January that it had started official operations of its first-phase project, Zhu has her hands full.

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Zhu, a native of Zhoushan, says she left her hometown as a teenager to see the outside world, but returned a year ago to take advantage of the government decision to use the island as a pilot zone for revitalizing China's marine economy.

"When I was a child I thought my hometown was boring because it had just fishing boats and shipyards. There was hardly any buzz here. That has changed and we now see people and investors from all over the world flocking to the islands. The industries on the island have also become more diversified, and I think it is the right time for people like me to come back to surf the wave," Zhu says.

When the Zhoushan Port Comprehensive Bonded Zone announced on Jan 8 that it had started official operations of its first-phase project it also marked the region's first steps in its quest to be a free trade zone.

Alongside fine wines from France, premium chocolates from Belgium and extra virgin olive oil from Greece, shipping, information and warehousing services from European countries are expected to set up shop in the proposed free trade zone.

Located in Zhejiang province, the zone covers 2.55 square kilometers on the Zhoushan islands.

Although the bonded zone is the first step in Zhoushan's goal to become a free trade zone, it is also an integral part of the government plan for boosting its marine economy.

Some 110 companies have been registered in the bonded zone and another 20 are undergoing the registration process. The combined investments of projects running in the zone will reach some 31 billion yuan ($5.12 billion), says Bei Luguo, director of the bonded zone authorities.