Chinese President Xi Jinping stressed efforts to promote high-quality development of the marine economy at a meeting of the Central Commission for Financial and Economic Affairs, which he heads, on July 1.

　　To promote the high-quality development of the marine economy, there should be a greater focus on innovation-driven growth, efficient coordination, industrial renewal, harmony between human and the sea, and win-win cooperation, according to the meeting.

　　It also emphasized increasing policy support and encouraging private capital participation in the marine economy.

　　China should boost its capacity for marine technological innovation, strengthen, optimize and expand its marine industries, enhance marine ecological protection, and promote global cooperation in marine scientific research, disaster prevention and mitigation, and the blue economy.

　　In 2024, the gross ocean product (GOP) of China's marine economy exceeded 10 trillion RMB (about 1.4 trillion USD), according to the Ministry of Natural Resources. This milestone represents a robust expansion in the marine sector, with emerging industries maintaining rapid growth and technological innovation gaining traction.

　　Emerging marine industries, such as marine manufacturing and offshore wind power, have seen significant growth. Marine manufacturing emerged as a key driver, with a substantial increase in new orders, accounting for over 30 percent of the total GOP. Offshore wind power has scaled up, as annual power generation rose by nearly 30 percent year on year.

　　In terms of traditional marine industries, China's shipbuilding industry continued to dominate globally, holding a leading position in global maritime transportation and port operations.

　　The marine economy has also seen increased investment in technological innovation, with a focus on digitalization, intelligent equipment, and sustainable development. This has improved ocean governance, fostered smart fisheries and smart ports, and enhanced shipbuilding capabilities.