The Newly Rising "Blue Economy:" An Increase Expected to Reach 4% of China's GDP of the Same Period

11/23/05 -- China's marine economy has maintained growth with great momentum in recent years. As disclosed by relevant authorities of the State Oceanographic Bureau, the added value of China's marine industry for the year 2005 is expected to reach 4% of China's GDP of the same period. The "blue economy" has become a new booster of the country's economy.

In 2004, the gross output value of China's major marine industry is said to have reached 1284.1 billion yuan [approximately 160 billion dollars], with an increase of 526.8 billion yuan [approximately 65 billion dollars], which is equal to 3.9% of China's GDP of the same period. The rate of increase is 9.8% adjusted for inflation, compared to the previous year.

China's marine industry consists of twelve categories, including marine fishery, offshore oil and natural gas, marine chemical industry, marine biopharmacy and health products, marine power and sea water desalinization, inshore shipbuilding, marine engineering, marine transportation, coastal tourism, and marine information services, among others. Some coastal areas have further broadened the scope of the marine economy and included near-sea and near-harbour industries such as nuclear power, coal power, and heavy chemical industry. The total reached about 10% of GDP in major coastal provinces.

It has been reported that the strengthening of economic cooperation among coastal areas has given rise to the formation of three major regional marine economic zones, namely, the Economic Zone of Peripheral Bohai Sea, the Economic Zone of the Yangtze River Delta, and the Economic Zone of the Pearl River Delta. The gross value of the marine economy in these three areas composes 80% of the total value countrywide. Coastal tourism, marine fishery, offshore oil and natural gas, and marine transportation are the four pillar industries of these zones.

With a coastline of over eighteen thousand kilometres along its vast maritime space, China boasts abundant marine resources. According to the "National Programme for Marine Economic Development" released by the State Council in May 2003, the increase of China's marine industry will account for over 5% of GDP by 2010. Marine industry will become a pillar industry of China's national economy.

[Full Article]

By Ban Ruochuan

--Translated by Shirley Xiaobi Dong

[This article appeared in the People's Daily, which started publication in June 1948 and currently has a circulation of 3 million. It is the most influential and official newspaper in China.]

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