China's marine economy grows faster than GDP in 2024: report

China's marine economy grew at a faster pace than the gross domestic product (GDP) in 2024, showed a report which was released by the Ministry of Natural Resources in the southern island province of Hainan on Sunday.

The 2025 China Ocean Economic Development Index report was released during a conference held to mark the World Oceans Day which falls on Sunday.

According to the report, China's marine economy achieved a significant milestone in 2024, with the gross ocean product (GOP) exceeding 10 trillion yuan (about 1.4 trillion U.S. dollars) for the first time. The index for the marine economy was 125.2, up 2.3 percent from 2023.

Significantly, the 5.9 percent year-on-year growth rate of the GOP was higher than that of the GDP, which stood at 5 percent.

"The 2025 China Ocean Economic Development Index gives a comprehensive assessment on the development quality and efficiency of the marine economy, covering aspects such as the scale, structure, economical and intensive use of resources, external cooperation, people's livelihoods and sharing of development achievements," Li Shuangjian, deputy head of the National Marine Data and Information Service of the Ministry of Natural Resources, told the China Central Television in an interview.

The marine manufacturing industry maintained its dominant position in driving the sector's overall growth, with its added value reaching 3.2 trillion yuan in 2024, accounting for more than one third of the GOP, said the report.

Notably, the added value of emerging industries went up 7.2 percent year over year, indicating the growing role these industries have played in driving the expansion of the marine economy.

Moreover, the pace of digitalization and industrial upgrading accelerated in fishery, offshore oil and gas exploration, shipbuilding, and engineering equipment manufacturing, among other industries of the marine economy, according to the report.

"In the next phase, we will focus on planning and promoting high-quality development of the marine economy during the 15th Five-Year Plan (2026-2030) period by fostering new quality productive forces in marine industries and stepping up guarantee for marine resources and production factors, so as to make new and greater contributions to building China into a strong maritime country," Li said.

China's marine economy grows faster than GDP in 2024: report

China's marine economy grows faster than GDP in 2024: report

China's marine economy grows faster than GDP in 2024: report

China's marine economy grows faster than GDP in 2024: report

The airstrike conducted by Saudi-led coalition targeting the port of Mukalla in Yemen's oil-rich Hadramout province early Tuesday morning has caused severe damage to nearby residential buildings and left locals terrified.

According to the coalition, the strike targeted weapons and combat vehicles allegedly unloaded at the port from two unauthorized ships that arrived from the port of Fujairah in the United Arab Emirates (UAE) over the weekend.

Coalition spokesman Turki Al Maliki said the vessels had disabled their tracking systems and delivered a large cache of arms intended to bolster the Southern Transitional Council (STC) in Yemen's Hadramout and Al-Mahra provinces, a move he described as a "clear violation" of the UN Security Council Resolution 2216 of 2015.

He said the operation was conducted in accordance with international humanitarian law and its customary rules, ensuring that no collateral damage occurred.

However, local residents offered a different account, describing scenes of chaos and destruction in the pre-dawn hours following the strike.

"As you can see, this is the severe damage that occurred to our home as a result of the airstrike that targeted the Mukalla port, specifically military vehicles that were next to the house, about 20 to 40 meters away. At exactly 04:30, the location was targeted with a surprise airstrike, and we were shocked by the sudden violent explosions," said Salem Ali Al-Haj Zaid, a local resident.

Another resident, Um Ali, described the psychological toll on children.

"The children kept crying from the time of the strike until morning. Poor things, they were shocked, scared and unable to sleep again," said Ali.

The strike hit especially hard for Um Mohammed, a widow living on the top floor of a residential building near the port.

"We were terrified. My mother is old. The most damage was to the floor of the building where I live, and I am a widow. Who will compensate us for this?" said Mohammed.

The reported attacks come amid heightened military escalation in Hadramout, where Saudi-backed Yemeni government forces have warned of possible military action following the STC's refusal to withdraw its forces from the governorate.

Meanwhile, the Saudi-led coalition called on all civilians to immediately evacuate the port of Mukalla to ensure their safety, according to the Saudi state news agency SPA.

Mukalla, the capital of Hadramout governorate, is a key port city on Yemen's southeastern coast, with strategic and economic value.

Saudi-led airstrike on Yemen's Mukalla port damages homes, sparking fear among locals