A bird's eye view of Jinyi New Area in Jinhua, Zhejiang province. [Photo/zj.zjol.com]

Jinyi New Area, the fifth provincial development zone in Zhejiang province, was launched in Jinhua on June 16.

The zone includes all of Jindong district and has an area of around 661.8 square kilometers.

According to local authorities, it will boost the integrated development of Jinyi Urban Area, lead the development of central and western Zhejiang, promote sea and land transportation throughout the province, and pilot international trade reforms in China.

Local authorities aim to increase the zone's GDP to 50 billion yuan ($7.05 billion) and its population to 500,000 by 2025. They also plan to develop a globally-competitive modern industrial cluster integrating advanced manufacturing, new materials, e-commerce, and modern logistics by 2035.

The other four provincial development zones in Zhejiang include Hangzhou Qiantang New Area, Ningbo Front Bay New Area, Shaoxing Binhai New Area, and Huzhou Southern Taihu New Area.