(ECNS) -- China's marine economy topped 10 trillion yuan ($1.4 trillion) for the first time in 2024, a key milestone as the country moves to elevate ocean-based industries into core drivers of national growth, the country's top economic planner said Wednesday.
Zheng Shanjie, head of the National Development and Reform Commission (NDRC), said the sector now accounts for roughly one-third of global shipping and container throughput. China also holds over half the global market share in shipbuilding and offshore engineering equipment. Its marine aquaculture output has led the world for several consecutive years.
A recent meeting of the Central Commission for Financial and Economic Affairs stressed efforts to promote high-quality development of the marine economy by strengthening top-level design and encouraging active participation from private capital.
Offshore wind power was highlighted as a leading emerging sector. According to the 2024 China Marine Economic Statistical Bulletin, China's offshore wind power generation rose 28.2% year-on-year. The country is also seeing a shift toward deep-sea development.
China Three Gorges Corporation's 800-megawatt offshore wind power project in Dafeng District, Yancheng City, Jiangsu Province, connected its first batch of turbines to the grid last Friday. The project features China's farthest offshore wind turbines currently in operation, with the center of the most distant site located 80 kilometers from shore and the farthest point reaching 85.5 kilometers offshore.
A company representative told China News Service that offshore wind power enjoys inherent resource advantages, with sea winds generally stronger and more stable than on land, and turbulence intensity lower.
The world's largest direct-drive floating offshore wind turbine, featuring a single-unit capacity of 17 megawatts and a rotor diameter of 262 meters, rolled off the production line in Fuqing, Fujian Province, according to China Huaneng. This provides new technological support for China's offshore wind power to advance into deeper waters.
Coastal provinces are racing to deploy marine economy projects. Guangdong has set targets to build advanced aquatic product processing parks and reach 4.4 million metric tons in annual marine aquaculture output by 2027. Shanghai, in a draft development plan for 2025–2035, aims to generate more than 45 billion yuan in added value from marine engineering equipment and over 180 billion yuan from marine transportation.
In addition, major coastal provinces such as Shandong, Jiangsu, and Zhejiang are also developing their marine economies. Industry experts believe that further tapping into the potential of the ocean economy will inject strong momentum into China's overall economic growth.
By 2030, China's total installed wind power capacity is expected to double, reaching 1 billion kilowatts, said Qin Haiyan, secretary-general of the Chinese Wind Energy Association, adding that by 2050, it will reach 3 billion kilowatts.
(By Gong Weiwei)
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