China’s marine economy posts steady growth
China’s marine economy has shown a positive trend in opening up, as the country’s economic and trade exchanges with countries along the 21st Century Maritime Silk Road continued to advance. The country’s gross ocean product rose 6.2 percent year on year to 8.9 trillion yuan in 2019.
BEIJING, Nov. 1 (Xinhua) –The China Ocean Economic Development Index, which gauges the country’s ocean economic development, rose 2.3 percent from 2018 to 134.3 in 2019, according to data released by the National Marine Data and Information Service.
The sub-indices for marine economic development level, efficiency and potential rose 4.2 percent, 0.9 percent and 1.1 percent, respectively, the data showed.
The country’s gross ocean product rose 6.2 percent year on year to 8.9 trillion yuan (about 1.32 trillion U.S. dollars) in 2019.
China’s marine economy has shown a positive trend in opening up, as the country’s economic and trade exchanges with countries along the 21st Century Maritime Silk Road continued to advance.
Under the 21st century Maritime Silk Road Initiative China’s marine economy posts steady growth
In line with the priorities of the 21st Century Maritime Silk Road, China will deepen ocean cooperation by fostering closer ties with countries along the Road, supported by the coastal economic belt in China. Ocean cooperation will focus on building the China-Indian Ocean-Africa- Mediterranean Sea Blue Economic Passage, by linking the China-Indochina Peninsula Economic Corridor, running westward from the South China Sea to the Indian Ocean, and connecting the China-Pakistan Economic Corridor (CPEC) and the Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC). Efforts will also be made to jointly build the blue economic passage of China-Oceania-South Pacific, travelling southward from the South China Sea into the Pacific Ocean. Another blue economic passage is also envisioned leading up to Europe via the Arctic Ocean.
The trade volume between China and these countries rose 5.8 percent year on year in 2019, the data showed. the 21st Century Maritime Silk Road has become an initiative not for one country but for all countries who welcome and support the initiative and are working together closely with each other for economic and social advancement as well as for the welfare of their peoples. The 21st Century Maritime Silk Road has always been and will still be open to all countries along the road.
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