Blue economy becomes new growth engine

The company's vice president, Zhan Li, said it has taken advantage of the significance that the plan places on the maritime shipping industry.

"The company is carrying out international cruising businesses, and a route from Yantai to Pyongtaek in the Republic of Korea is being negotiated," Zhan said.

Behind Shandong's marine industry lie technical support and innovation, which have both allowed the industry to transform and upgrade itself through the years.

Weihai-based Disha Pharmaceutical Group, a pharmaceutical enterprise with 20 years of history, has developed new biomedicines with the help of the discoveries of marine biomaterials like glucosamine and oligochitosan.

Wang Dejun, the group's CEO, said research and development of drugs and functional foods based on marine ingredients and materials are critical in propelling technological innovation and industry upgrading.

Liu Wanshun, a professor with the school of Marine Life Sciences at the Ocean University of China, said the development of marine resources has gone from traditional fishing to comprehensive utilization to the construction of a modern maritime industry.

China has abundant marine resources, with 3 million square km of offshore waters and 32,000 km of coastline.

However, the marine economy accounts for no more than 10 percent of the country's GDP, and mainly focuses on traditional industries such as fishing, transport and tourism, which together account for two-thirds of the country's total marine output.

Emerging industries, including marine-related biomedicine, power, chemicals and seawater utilization, only account for 5 percent of marine output.