The Nantong Petrochemical Product Exchange Center opened in Nantong, Jiangsu province, on June 26 with the establishment of 11 enterprises and six financial service institutions, Nantong Economic and Technological Development Area (NETDA) reported.

The exchange center, located in the service outsourcing center of the development zone, will attract petrochemical product companies at home and abroad to gather business, capital and information. The center aims to have over 200 enterprises with annual revenue exceeding 30 billion yuan ($4.89 billion).

Qu Baoxian, Party and labor committee secretary of NETDA, said the center will have strategic significance as a platform for commodity service, electronic transaction, financial support, comprehensive service and public information.