Marine economy highlighted

China plans to boost its capacity for innovative marine technologies, optimize and expand its marine industries, enhance marine ecological protection and promote the blue economy, as the country eyes further ocean-driven economic growth, it was stated at a recent government meeting.

Northeastern China, with abundant biomass resources, good wind and solar assets, and home to major ports, is expected to become the country's most important sustainable fuel production base, said China Power Engineering Consulting Group Co Ltd.

The company, a subsidiary of State-owned China Energy Engineering Corp Ltd, said it plans to build a sustainable fuel production base with an annual capacity of over 1 million metric tons in Northeast China. At the ports of Jinzhou and Dalian in Liaoning province, it plans to build a transfer base of sustainable fuel with annual transfer capacity of over 1 million tons of fuel.

A key meeting of the Central Commission for Financial and Economic Affairs earlier this month stressed efforts to advance the building of a unified national market and promote the high-quality development of the marine economy.

The meeting also emphasized increasing policy support and encouraged private capital participation in the sector.

China's marine economy is showing strong growth momentum. Last year, the gross ocean product exceeded 10 trillion yuan ($1.4 trillion) for the first time, ultimately hitting 10.54 trillion yuan, up 5.9 percent year-on-year. The figure accounted for 7.8 percent of the national GDP, becoming an important engine driving overall economic growth, said the Ministry of Natural Resources.

"Facing a complex international situation this year, we should vigorously cultivate new quality productive forces for the marine economy, accelerate the building of a modern marine industry system, and coordinate the promotion of marine development and protection," said Shi Suixiang, director of the National Marine Data and Information Service.

China Power Engineering Consulting Group said it would promote the building of a sustainable fuel transportation route from Liaoning to Shanghai, and support Shanghai Port and Zhoushan Port in Zhejiang province to build globally leading regional green fuel filling centers.

In addition, the company plans to export extra sustainable fuel to nearby countries such as Japan, South Korea and Singapore, as the global shipping sector has been accelerating low-carbon development.

Meanwhile, the meeting highlighted that China will foster distinctive marine culture and tourist destinations, and promote high-quality development of the maritime transportation sector.

China's ship-based foreign trade has continued to demonstrate strong vitality, with international shipping volumes steadily increasing.

From January to May, the number of ships entering and leaving domestic ports for international voyages reached 179,800, growing 2.45 percent year-on-year. These vessels carried 1.99 billion tons of goods, edging up 1.66 percent year-on-year, said the Ministry of Transport.

Exports of high value-added products such as complete vehicles, spare parts and mechanical equipment from Dalian to India have continued to grow. Trade with Russia remains stable, with growth in the number of temporary additional voyages from Dalian to some Russian cities, according to Dalian Port.

In addition, since its earliest reception of international cruise ships in 1976, Dalian Port has welcomed many global cruise lines. This year, the port is expected to welcome 15 visits of international cruise ships, and the growth of the cruise economy is likely to drive local consumption and tourism.

"With further relaxation of policies such as visa-free entry and transit for foreign tourists, we firmly believe that the number of cruise ships and tourists visiting Dalian will continue to increase significantly in the future," said Wang Bo, assistant to the general manager of Dalian Port's passenger transport branch.