The Ministry of Natural Resources held a regular press conference on November 20 to introduce the operation of the marine economy in the first three quarters. Preliminary calculations show that the gross marine product value in the first three quarters was 7.2 trillion yuan, a year-on-year increase of 5.8%. The overall marine economy continues to recover.
“Since 2023, the national marine economy has continued to recover, the main economic indicators have continued to rebound, and many indicators in many fields have seen some positive changes and highlights,” said He Guangshun, Director of the Department of Marine Strategic Planning and Economics of the Ministry of Natural Resources. The gross marine product is 0.6 percentage points higher than the national GDP growth rate and 0.4 percentage points higher than the GDP growth rate of coastal areas.
The traditional marine industry has shown good growth momentum, with marine shipbuilding companies seizing the opportunity of the rotation of the new ship market. China’s seagoing ship market share maintained its leading position in the world. Additionally, the marine tourism industry has accelerated into a new stage of comprehensive recovery, with marine passenger traffic increasing by 121.0% year-on-year, exceeding the level of the same period in 2019.
The supply capacity of marine resources has been steadily improved, with offshore oil and gas reserves and production continuing to increase. The production and operation conditions of maritime-related enterprises have also generally improved, with the majority of industries maintaining stable development.
Innovation has empowered the development of emerging industries, with emerging marine industries continuing to grow. The level of independent research and development and manufacturing of marine equipment has been accelerated, and the amount of offshore engineering orders delivered in the first three quarters increased by 50.0% year-on-year. Additionally, marine renewable energy development continues to make new breakthroughs, with the construction of offshore wind power projects accelerating and new grid-connected capacity and power generation increasing significantly.
In terms of maritime trade routes, ocean transportation developed steadily and the level of port facilities continued to improve. The foreign trade cargo throughput of coastal ports increased by more than 10% year-on-year, and new trade routes were opened to promote the construction of the “Belt and Road”.
However, He Guangshun cautioned that there are still many external unstable and uncertain factors, and domestic demand is still insufficient. He emphasized the need to consolidate the foundation for the recovery of the marine economy.
“With the continued release of the effects of national macro policies and the enhancement of the confidence of business entities, the marine economy’s endogenous power continues to increase, and my country’s marine economy is expected to continue to maintain a steady and positive development momentum throughout the year,” He Guangshun said. (People’s Daily Overseas Edition)