(China Economic Roundtable) Xinhua Headlines: China's marine economy powers ahead for high-quality growth

* With a mainland coastline stretching 18,000 km and a sea area under its jurisdiction of around 3 million square km, China is a major maritime nation, well-positioned to develop its marine economy.

* China's marine economy has seen steady expansion in recent years, making significant progress across multiple sectors, including marine fisheries, shipbuilding, cruise tourism, deep-sea mineral extraction and the development of deep-sea genetic resources.

* In 2024, China's marine economy achieved a significant milestone with its gross ocean product (GOP) surpassing 10 trillion yuan (about 1.4 trillion U.S. dollars) for the first time, more than double the figure recorded in 2012.

BEIJING, Aug. 13 (Xinhua) -- Bolstered by sustained policy support and enhanced innovation capacity, China's marine economy is poised for robust growth during the 15th Five-Year Plan period (2026-2030), underpinned by the world's largest and most comprehensive marine industrial system.

With a mainland coastline stretching 18,000 km and a sea area under its jurisdiction of around 3 million square km, China is a major maritime nation, well-positioned to develop its marine economy, guest speakers noted on the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

China's marine economy has seen steady expansion in recent years, making significant progress across multiple sectors, including marine fisheries, shipbuilding, cruise tourism, deep-sea mineral extraction and the development of deep-sea genetic resources, according to the speakers.

During the roundtable, they also shared policy insights on bolstering the "blue" growth and strengthening international cooperation on ocean governance.

THRIVING MARINE ECONOMY

In 2024, China's marine economy achieved a significant milestone with its gross ocean product (GOP) surpassing 10 trillion yuan (about 1.4 trillion U.S. dollars) for the first time, more than double the figure recorded in 2012, said Ma Weichen, an official with the National Development and Reform Commission, the country's top economic planner.

Ma added that China now boasts the world's largest and most comprehensive marine industrial system, encompassing all 15 major marine industries.

Using the shipbuilding industry as an example, Ma noted that Chinese shipbuilders topped global rankings in 2024 across all three traditional metrics -- completion volume, new orders and order backlog -- each accounting for more than half of the world market, with new orders alone exceeding 70 percent.

Official data also showed that in 2024, China's shipping volume and container throughput accounted for about one-third of the global total, while its market share in vessels and offshore engineering equipment exceeded 50 percent worldwide.

Despite external uncertainties, China's marine economy has maintained a sound momentum this year. The country's GOP grew by 5.8 percent year on year to 5.1 trillion yuan in the first half of 2025, according to preliminary calculations.

FUTURE ENGINE OF "BLUE" GROWTH

Building on the momentum of robust "blue" growth, Chinese authorities have firmly placed the development of the marine economy on the national agenda.

During a high-level meeting of the Central Commission for Financial and Economic Affairs in early July, Chinese leadership stressed that advancing Chinese modernization requires "promoting the marine economy's high-quality development" alongside a "Chinese path of leveraging marine resources to achieve strength."

Policymakers highlighted five areas of focus, namely, innovation-driven growth, efficient coordination, industrial renewal, harmony between humans and the sea, and win-win cooperation, according to the meeting.

Following the meeting's decisions, relevant departments are formulating a comprehensive plan to promote the high-quality development of the marine economy during the 15th Five-Year Plan period (2026-2030), according to Ma.

Ma said that, as a key part of the plan, China aims to achieve breakthroughs in core marine technologies and secure major original scientific and technological outcomes.

The country will also enhance comprehensive planning of coastal areas, nearshore waters and the deep sea, while accelerating the transformation of traditional marine industries, Ma added.

Speaking at the roundtable, Gu Wu, an official of the Ministry of Natural Resources, said that China will stick to innovation-driven development and adopt more measures to cultivate new-quality productive forces in the marine sector.

Efforts will be made to promote marine energy utilization, seawater desalination, and the development of marine medicines and pharmaceutical products, Gu added.

INTERNATIONAL COOPERATION ON OCEAN GOVERNANCE

On June 12, China's research icebreaker Xuelong (Snow Dragon) 2, arrived in Shanghai, marking the completion of key missions in the country's 41st Antarctic expedition.

"This expedition involved the participation of research institutions and scientists from eight countries, including the United Kingdom, the United States, Australia, New Zealand, Norway, the Republic of Korea, Thailand and Malaysia," Gu said. "It has exemplified China's active engagement in global ocean governance."

To date, the country has signed cooperation agreements in the marine sector with more than 50 countries and international organizations, according to Gu.

In addition, China has jointly established marine research centers, laboratories and other cooperation platforms with nine countries, and set up regular ocean cooperation mechanisms with African, Southeast Asian and island nations, Gu said.

By the end of 2024, China had organized more than 300 training sessions on ocean governance, providing training opportunities for over 6,000 young scholars from developing countries.

Meanwhile, Chinese industries such as port construction and aquaculture have been steadily expanding into overseas markets, tapping diversified ocean development models to harness the surging momentum of the blue economy, Gu said.

While the marine economy is a type of open economy, it is imperative to strengthen international cooperation on ocean governance, the guest speakers noted at the roundtable.

China will take more measures to promote sustainable development of the oceans and build a maritime community with a shared future, Gu added.  ■