In the first quarter of 2025, the Yangshan Free Trade Zone in Shanghai's Lin-gang Special Area made significant strides towards its development goals of becoming a new model trade demonstration zone, a global shipping hub, and a center for innovative business formats. The zone reported robust growth in Q1, with import and export volume reaching 66.94 billion yuan ($9.2 billion), up 4.7 percent year-on-year.

The bonded maintenance sector performed particularly well, with 135 new projects landing and bonded maintenance import and export value surging to 9.71 billion yuan, up 7.4 percent year-on-year. The zone also accelerated digital transformation in shipping and trade, with electronic bills of lading issuance exceeding 480,000, a 65-percent year-on-year increase.

Innovative institutional breakthroughs were achieved in the first quarter, including the world's first fully digital bunker fuel supply operation. Additionally, the zone focused on green shipping, completing China's first domestic green methanol bunkering and expanding the scope of liquified natural gas bunkering services. These efforts position Yangshan Free Trade Zone as a leader in the global green shipping sector.

A ship is refueled at Yangshan Port in Lin-gang Special Area. [Photo/WeChat ID: shlgguanweihui]