According to the statement issued by the centre, the 20 crew member boat capsized some 100 nautical miles east of Zhujiajian.
Zhujiajian is the Port of Ningbo Zhoushan in Zhejiang.
It was a Jiangsu registered fishing boat. Jiangsu is a neighbouring province of Zhejiang and fishing boats regularly travel in the area between them.
Some 16 people were recovered by the rescue team which included the body of the 12 deceased people.
Several rescue ships including fishing boats working nearby and an aircraft have been deployed for the rescue operation. Authorities have informed that the search for the missing persons is still underway.