President Xi Jinping has stressed the need to advance the “high-quality development” of China’s marine economy, highlighting its growing strategic importance during a high-level economic meeting on Tuesday. He also called for stronger policy support to accelerate the sector’s growth.
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In this explainer, the Post examines why the marine economy matters to the country’s overall economic strategy, where government policy is heading, and which sectors stand to benefit.
Why does the marine economy matter to China?
China’s marine gross domestic product exceeded 10 trillion yuan for the first time in 2024, accounting for 7.8 per cent of national GDP – a milestone the government called “a truly remarkable achievement”.
The progress came after decades of investment in marine industries, which are now entering a pre-boom phase, said Hu Zhenyu, a senior research fellow at the China Development Institute, a think tank based in Shenzhen.
The marine economy plays an increasingly important role in job creation, food security and coastal development. But to fully unlock its potential, further support is needed.
Which sectors belong to the marine economy?
The marine economy spans a wide range of industries – from fisheries, shipping and offshore drilling to marine biotechnology and coastal tourism. These sectors sometimes involve high capital investment, elevated risks and lengthy return cycles – but also hold the potential for strong returns.
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