Beijing, May 5: According to China’s Ministry of Natural Resources, the total marine product value in China surged to 26 trillion yuan in the first quarter, marking a 5.4% increase compared to the previous year. This growth signals a promising start for the marine economy.
The allocation capacity of marine resources has consistently improved. Offshore crude oil and natural gas production saw year-on-year increases of 5.1% and 7.7%, respectively. The world’s first 20-megawatt offshore wind turbine has been connected to the grid in the Fujian waters, with an estimated annual electricity generation capacity exceeding 80 million kilowatt-hours. National marine aquatic product production also recorded a 4.3% rise compared to the same period last year.
Traditional marine industries are developing healthily. There has been a steady increase in new orders, completed projects, and total orders within the marine shipbuilding industry. The marine transportation sector continues to grow, with marine freight volume and cargo business rising by 6.8% and 9.4% year-on-year, respectively. The total value of marine imports and exports increased by 7.2%.
Emerging marine industries are also on the rise. There were year-on-year increases of 36.4%, 60.0%, and 8.9% in new orders, deliveries, and total orders for marine engineering equipment, respectively.
(Source: China Media Group, Beijing)
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