China's Marine Economy Surpasses 10 Trillion Yuan in 2024

The 2024 China Marine Economic Statistical Bulletin, issued by the Ministry of Natural Resources, indicates that the overall output of China’s marine economy has achieved significant growth, reaching 10.54 trillion yuan. This figure is up by 5.9 percent compared to the previous year, and the marine industry now represents 7.8 percent of the national GDP, a growth rate that surpasses the general economic expansion by nearly one percentage point.

the farming segment provided around 488.5 billion yuan, the manufacturing sector added 3.77 trillion yuan, and the tertiary services contributed 6.28 trillion yuan. Additionally, the combined added value of 15 major marine industries grew by 7.5 percent, totaling 4.37 trillion yuan, underscoring the significant strides made in these areas.

Traditional marine industries remained robust throughout the year. The shipbuilding sector continued its rapid growth with China retaining a leading position in key metrics such as new orders and backlogs, while the marine transportation sector experienced a 9.5 percent increase in cargo turnover along with improved port service capabilities.

Additionally, the report highlights the expansion of marine tourism, especially in major coastal cities where tourist activity was high throughout the year. Emerging marine industries also made notable progress; the marine engineering equipment manufacturing sector rebounded with new momentum, and the marine power industry saw rapid growth, with offshore wind power generation increasing by 28.2 percent year-on-year.