China’s Marine Economy Shows Positive Growth in First Three Quarters
The Director of the Department of Marine Strategic Planning and Economics of the Ministry of Natural Resources of China, He Guangshun, announced at a press conference in Beijing that China’s national marine economy continued to show signs of recovery in the first three quarters of the year.
According to He, preliminary calculations indicate that China’s gross marine product in the first three quarters reached 7.2 trillion yuan, representing a 5.8% year-on-year increase. He noted that since 2023, the national marine economy has been on a path of recovery, with various economic indicators rebounding and showing positive changes in multiple fields.
Key data from the first three quarters includes a 4.6% increase in national offshore crude oil production and a 9.7% increase in natural gas production. The marine fisheries sector also experienced steady growth, with both marine aquatic product production and marine aquaculture production growing at a year-on-year rate of over 5.0%.
The marine shipbuilding industry also saw positive trends, with new sea-going ship orders, completions, and orders on hand increasing by 40.2%, 23.3%, and 34.3% respectively year-on-year. Additionally, the marine tourism industry has entered a new stage of comprehensive recovery, as marine passenger traffic in the first three quarters exceeded 2019 levels.
He also highlighted the approval of 1,219 sea-use island projects covering 1.7 million acres, with an investment of over 600 billion yuan, as well as the continued improvement in marine energy supply capacity.
Despite these positive developments, He cautioned that there are still external unstable and uncertain factors, and domestic demand remains insufficient. He emphasized the need to consolidate the foundation of the marine economy’s recovery.
However, He expressed optimism for the future, stating that with the release of national macro-policies and increased confidence of business entities, China’s marine economy is expected to maintain a steady and positive development momentum throughout the year.