The provincial government of Zhejiang recently approved the establishment of six innovation zones in Hangzhou, Ningbo, Wenzhou, Jiaxing, Jinhua, and Taizhou to coordinate with China (Zhejiang) Pilot Free Trade Zone (FTZ) in Zhoushan.

File photo: VCG

The coordinated innovation zones, as an extension of the Zhejiang FTZ, cover a total area of nearly 120 square kilometers. Their primary task is replicating and promoting reforms of China's FTZs to develop the digital economy, private economy, smart manufacturing, and small commodities trade, said Zhang Qianjiang, deputy director of the office of the Zhejiang FTZ.

Zhang added that coordinated innovation zones serve as a platform to integrate resources to boost local innovation and reform.

The provincial government will delegate some of its administrative authorities to the coordinated innovation zones to accelerate their development.