The marine economy is making waves in the Chinese mainland, setting the stage for a transformative surge in high-quality growth. At a recent meeting of the Central Commission for Financial and Economic Affairs, officials emphasized the need to harness the vast potential of marine resources to propel modernization and strengthen the economy.
Historically seen as predominantly agricultural, the Chinese mainland has, over recent decades, uncovered the power of its oceans to drive robust economic progress. "Only in recent decades did we realize that the marine economy truly has the potential to bolster our economic strength," stated Liu Baocheng, dean of the Center for International Business Ethics at the University of International Business and Economics.
Data from the Ministry of Natural Resources reveals impressive figures: in 2024, the gross ocean product reached 10.54 trillion yuan, marking a 5.9% increase from the previous year. Marine manufacturing contributed over 30% of this total, while the service sector—bolstered by a vibrant cruise tourism scene—accounted for nearly 60%. Offshore wind power, advancing rapidly, recorded close to a 30% year-on-year growth, underlining the momentum in renewable energy 🚀.
The meeting stressed that innovation-driven growth, efficient coordination, and sustainable environmental efforts are critical for seizing the marine economy's promise. A collaborative approach among government bodies, business communities, and coastal provinces is seen as essential to balance economic productivity with strong marine environmental protection.
As the Chinese mainland charts this exciting course toward sustainable progress, the marine economy is poised to become a central force in its modernization journey—reminding us all that sometimes, the greatest opportunities lie just beneath the surface 🌊.
Reference(s):
Expert: What potential does the marine economy have for future growth?
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