China's marine economy is making big waves in the first half of 2025! With gross ocean production reaching 5.1 trillion yuan (around $708 billion) and a 5.8% year-over-year boost, the sector is proving its strength even amid global economic challenges. 🌊
Resource development is accelerating with approved maritime areas up 25.2% to 167,000 hectares, fueling projects worth 500 billion yuan (about $69 billion). Offshore crude oil production and natural gas output are on the rise with increases of 2.3% and 16.9% respectively, while the offshore wind power sector has seen a dramatic surge in new grid-connected capacity by 199.4% along with a 2.2% increase in power generation.
Traditional industries are holding their ground too. China's shipbuilding sector continues to lead globally, capturing major shares of new orders, completions, and order backlogs. Marine tourism is thriving with an 8% growth and a staggering 40.1% jump in cruise passenger numbers. Additionally, marine transport volumes and freight turnover have grown by 5.2% and 6.9% respectively.
Emerging sectors are riding the crest of innovation. Offshore engineering equipment deliveries jumped 39.3% with a 9.7% increase in order backlog. Exciting developments include Qingdao's introduction of the "Starfish AI Model" for marine pharmaceutical research and the sustained operation of the "Fenjinhao" megawatt generator for three consecutive years. 🚀
Experts say these impressive strides reflect a strategic focus on marine resource development and technological innovation, underscoring the resilience of China's marine economy even in uncertain global trade conditions.
Cover: Coastal view of Dalian, Liaoning Province, northeast China. /CGTN
Reference(s):
cgtn.com
