Expert: What potential does the marine economy have for future growth?

China has called for promoting the high-quality growth of the marine economy, according to a meeting of the Central Commission for Financial and Economic Affairs (CCFEA) on Tuesday.

The meeting emphasized that advancing Chinese modernization requires promoting the high-quality development of the marine economy and forging a Chinese path of leveraging marine resources to achieve strength.

"In the long history of China, we consider ourself as an agricultural country, or a land-locked country," said Liu Baocheng, dean of the Center for International Business Ethics from the University of International Business and Economics.

"Only in recent decades, we realized that the marine [economy] really does provide great potential to strengthen China's economy," Liu told CGTN.

An annual report released in February by the Ministry of Natural Resources shows that China's gross ocean product (GOP) reached 10.54 trillion yuan (about $1.47 trillion) in 2024, a 5.9 percent increase from the previous year, while demonstrating robust growth across multiple sectors.

Marine manufacturing emerged as a key driver, accounting for over 30 percent of the total GOP. Notably, the service sector was the largest contributor to the marine economy in 2024, contributing 59.6 percent of the total GOP. Tourism showed strong recovery signals, with cruise travel experiencing a significant uptick in popularity.

Offshore wind power entered a new phase of scaled development, with annual power generation growing by nearly 30 percent year on year.

Tuesday's meeting emphasized the need for a greater focus on innovation-driven growth, efficient coordination, industrial renewal, harmony between humans and the sea, and win-win cooperation to promote the high-quality development of the marine economy.

"We ought to collaborate with the global community, and also we address the balance between the productivity from the marine and to maintain stronger protection over its environment," Liu said.

"It's a very critical issue that all participants, from government to business communities, and also all the provinces along the coastal line, need to have consolidated efforts and synergies with each other towards such a goal," Liu emphasized.

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, the meeting said.

Developments over the years reflect China's growing marine ambitions. On November 10, 2020, the Chinese-manned submersible Fendouzhe, or Striver, reached a depth of 10,909 meters in the Mariana Trench. Using specimens collected during the dive, Chinese scientists have since published discoveries on extreme-environment adaptations and the resource potential of deep-sea organisms in the journal Cell.

On June 10, China launched the world's first commercial underwater data center powered by offshore wind energy. Located in Shanghai's coastal waters near the Lin-gang Special Area, the project pioneers the integration of renewable energy with digital infrastructure to meet global demand for low-carbon computing solutions.

Further highlighting China's growing maritime presence, the domestically built icebreaker Xuelong-2, or Snow Dragon-2, concluded a five-day visit to Thailand in May, featuring public tours and underscoring the deepening scientific and technological cooperation between the two countries.

These efforts underscore China's strategic commitment to becoming a global leader in marine science, ecological conservation, and sustainable ocean development. As the country pushes forward with policy reforms, technological breakthroughs, and international partnerships, its marine economy is poised to play an increasingly vital role in driving green growth and supporting global climate goals.

(With input from Xinhua)