Being a key part of Sino-Russia Dongning-Poltavka Trade zone, Zhejiang Industrial and Trade Zone officially went into operation on Oct. 19, 2005, and its commodity trade centre was also put into use on the same day.

Sino-Russia Dongning-Poltavka Trade Zone was a free trade zone authorized by the State Council with the characteristics of "free flow of personnel and commodity", "free exchange and circulation of currencies" and "setting up enterprises independently". The free trade zone covers an area of 12 square km with a total investment of 11.5 billion yuan.

With a planned area of 2.81 square km, Zhejiang Industrial and Trade Zone creates a "Green Channel" for Zhejiang products bound for Russia. Wang Zuoming, director of management committee of the trade zone and president of Zhejiang Yunneng Investment Company noted that all inward enterprises may set up plants within the zone and process garments, shoes and hats, household appliances that are in great demand in Russian markets into semi-finished products with local or coastal raw materials, and sent them out to the Chinese cross-border industrial and trade processing zone in Russia for assembly, and finally put them into Russian market with local Russian brands. Such an exporting pattern could bring down the high tariffs and effectively break down the exporting quotas imposed by the Commonwealth Independent States and European and American markets on China through legal means.

By People's Daily Online