China's marine economy saw a robust start in the first quarter of this year, with the gross marine product (GMP) growing by 5.7 percent year on year, reflecting the sector's strong development momentum.
According to the latest data from China's Ministry of Natural Resources (MNR), the country's GMP reached 2.5 trillion yuan (about 348 billion U.S. dollars) in the first quarter, outpacing the national GDP growth rate by 0.3 percentage points.
Traditional marine industries have maintained stable operations with gradual improvements. The three major shipbuilding indicators, new orders, completed orders, and backlog, remained within a reasonable range. China continues to lead the global shipbuilding market, especially in its backlog growth, MNR data shows.
The construction of China's "blue granary" also made steady progress, with marine fisheries output increasing by 4.5 percent year on year, demonstrating the stable supply capacity of marine aquaculture.
In terms of maritime trade, the overall development remained stable. MNR data shows that exports of ships and marine engineering equipment continued their upward trend for the fourth consecutive year, up 10.8 percent in the first quarter. Exports of wind power generating units also surged by 43.2 percent.
"Strong export performances of high-end, intelligent, and green marine products reflects China's competitiveness and resilience in the face of a complex international environment. In the first quarter, with continued national macroeconomic policies, market confidence is improving, and the long-term positive trend of the marine economy remains unchanged," said Shi Suixiang, the National Marine Data and Information Service director.
China's marine economy grows by 5.7 pct in Q1
