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Ocean economy becomes new growth sector
(People's Daily Online)
Updated: 2005-05-30 16:44

"The ocean economy has become China's new economic growth sector," said Sun Zhihui, deputy director-general of the State Oceanic Administration (SOA).

Statistics provided by the SOA show that preliminary accounting indicates a production value of 1284.1 billion yuan of the main ocean industries in 2004. The amount is ranked above the medium level among ocean countries. Besides, China's regional ocean economy continued to grow rapidly in 2004. Main ocean industries in the Yangtze Delta Economic Zone and the Bohai Economic Zone realized production value of more than 400 billion yuan.

The international pivotal position of China's ocean industry is also shaping the development of the ocean economy. China's salt production has always led the world. The ocean fishing industry also has the largest turnout in the world. China produces the third largest tonnage of ships in the world and traditional ocean industries are developing steadily. At the same time new ocean industries such as ocean oil and gas, coastal tourism and oceanic medicine are fast arising. In 2004 coastal tourism revenue reached 336.9 billion yuan, increasing by 34.2 percent over 2003, which provides a potent proof.

According to the SOA statistics from 2002 to 2004 total production value of the main oceanic industries has grown from 905 billion yuan to 1.28 trillion yuan. Added value has increased from the 404.2 billion yuan in 2002 to 528.6 billion yuan in 2004. The average growth was 16.9 percent, which is not only higher than the growth rate of the ocean economy during the Ninth Five-Year plan but also higher than the growth rate of the national economy during the same period.

"As a matter of fact current statistics methodology and scope do not fully reflect the contribution made by China's ocean economy to the national economy. With the establishment of ocean economy accounting system with oceanic characteristics there will be new statistics to truthfully reflect the contribution of the ocean economy. According to experts in the next ten years or so the ocean economy will continue to keep a rapid growth trend.", said Sun Zhihui.

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