Provinces prepare for new world of ftzs

Editor's Note: As China is willing to open up markets to foreign investment, cut restriction on capital flows and develop new service businesses, the country plans to establish seven more free pilot trade zones to further press ahead with deeper reforms.

Zhejiang Seaport Group Co, China's largest port operator by the amount of cargo it handled in 2016, is planning to add petroleum reserve and processing facilities to its operations, to take advantage of opportunities brought about by the China (Zhejiang) Pilot Free Trade Zone.

The group, which operates five giant ports, including Ningbo-Zhoushan Port, Jiaxing Port and Yiwu Port in Zhejiang, will invest 18 billion yuan ($2.61 billion) in the new facilities at selected ports and an industrial zone by 2020.