BCN-18 China’s marine economy grows 7.2 pct annually since 2012: report

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ZCZC

BCN-18

CHINA-MARINE-ECONOMY

China’s marine economy grows 7.2 pct annually since 2012: report

BEIJING, Dec. 26, 2018 (BSS/Xinhua) – China’s marine economy has seen an
average annual growth rate of 7.2 percent since 2012, reaching 7.76 trillion
yuan (around 1.12 trillion U.S. dollars) in 2017, according to a report
submitted on Monday for review at a bimonthly session of the National
People’s Congress Standing Committee.

China’s marine economy, which consists of three marine economic zones in
the north, east, and south of the country, accounted for 9.4 percent of the
gross domestic product in 2017, said the report.

China has seen continued development in innovation capability of marine
technologies, as well as the industrialization level, the report said, adding
that the breakthroughs in major technologies and projects have significantly
supported China’s progress toward a maritime power.

It also noted that China still faces such challenges as over-exploitation
of inshore coastal waters, insufficient exploitation of deep and high sea
waters, a relatively low level of marine scientific and technological
innovation capabilities, and ecological conservation.

The report said China will formulate policies and measures to build the
country into a maritime power by improving legislative work, optimizing
marine industrial structures, improving the quality and effectiveness of the
marine economy, among others.

Efforts will also be made to transform and upgrade traditional marine
industries to help them move towards the middle and high ends of the global
value chain, according to the report.

Authorities will strengthen control in the use of marine resources, help
nurture a group of innovative enterprises in the drive towards making
breakthroughs in core technologies related to the sea, and innovate sea
management systems and mechanisms, the report said.

BSS/XINHUA/HR/1225