At a recent Central Commission for Financial and Economic Affairs (CCFEA) meeting, leaders on the Chinese mainland spotlighted the untapped potential of the marine economy. As priorities shift from land-focused growth to ocean-driven innovation, the sea emerges as a frontier for high-quality development.
From Farmland to Seascape: For centuries, the Chinese mainland recognized itself as an agricultural powerhouse. Yet, Liu Baocheng, dean of the Center for International Business Ethics at the University of International Business and Economics, reminds us that “only in recent decades have we realized the sea’s potential to supercharge our economy.”
Numbers Speak Volumes: An annual report from the Ministry of Natural Resources on the Chinese mainland shows that gross ocean product (GOP) hit 10.54 trillion yuan (about $1.47 trillion) in 2024—up 5.9% from the year before. Key drivers include:
- Marine manufacturing: accounting for over 30% of GOP
- Service sector: the largest contributor at 59.6%
- Tourism revival: cruise travel surges as travelers seek coastal adventures
- Offshore wind power: annual generation jumps nearly 30% year-on-year
Charting a Sustainable Course: The CCFEA meeting underscored a roadmap for growth centered on innovation, industrial renewal, and ecological harmony. Stakeholders—from provincial authorities to private enterprises—are urged to align on efficient coordination and environmental safeguards.
“Collaboration with the global community is essential,” Liu adds. “We must balance productivity with marine conservation to ensure long-term prosperity.” As the Chinese mainland sets sail toward a blue economy, the world watches for lessons in sustainable, ocean-based growth.
Reference(s):
Expert: What potential does the marine economy have for future growth?
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