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Economy

China's marine economy enjoys smooth start in Q1, MNR

June 04, 2019


Abstract : China's marine economy achieved a smooth start this year, with national marine production preliminarily estimated to rise by 6.6 percent year on year to 1.9 trillion yuan in the first quarter, said China's Ministry of Natural Resources.

BEIJING, June 4 (Xinhua) -- China's marine economy achieved a smooth start this year, with national marine production preliminarily estimated to rise by 6.6 percent year on year to 1.9 trillion yuan in the first quarter, said China's Ministry of Natural Resources (MNR).

The benefits for marine economic development have been improved, with revenues of marine-related industrial enterprises growing steadily.

In the first quarter, the marine-related industrial enterprises above designated size and under key monitoring had seen their total operating revenue grow by 6.3 percent year on year to 348.9 billion yuan. The profit margin of the operating revenue was 10.4 percent, basically flat from a year earlier.

The structural optimization and adjustment of emerging marine industries has been quickened. In the first quarter, two kinds of enterprises which are above the designated size and under key monitoring and respectively engaging in marine pharmaceutical and biological products as well as marine renewable energy utilization had seen the year-on-year decline in total profit was narrowed by 5.2 percentage points and 6.4 percentage points from January to February.

Besides, new orders received by the marine engineering manufacturing industry totaled 1.5 billion U.S. dollars during this period, up 114.3 percent year on year.

Stock reduction has received good results. As of the end of March, the finished product stock of marine-related industrial enterprises above designated size and under key monitoring had fallen by 1.3 percent, 1.6 percentage points higher than the national average decline.

Marine-related enterprises has mushroomed. In the first quarter, newly-registered such enterprises in key-monitoring industries reached 4,967, up 26.8 percent year on year, 19.4 percentage points higher than that of the same period last year.

The newly-registered marine-related enterprises in marine tourism, marine fishery and marine transportation accounted for 80.3 percent, 7.9 percent and 5.5 percent respectively among the total newly-registered such enterprises nationwide.

The maritime foreign trade tends to be balanced. From January to March, the imports and exports of marine products under key monitoring totaled 14.3 billion U.S. dollars, down 6.1 percent year on year. The exports were 10.8 billion U.S. dollars, down 12.9 percent year on year, while the imports were 3.5 billion U.S. dollars, up 23.8 percent year on year.

Imports and exports via sea transportation amounted to 649.3 billion U.S. dollars, down 0.1 percent year on year. The exports increased by 2.1 percent year on year, while the imports went down 2.9 percent year on year.

The intensive use of marine resources has continued to be intensified. From January to March, the sea area newly approved for use decreased by 65.6 percent year on year to 7,208 hectares nationwide, and there was no new reclamation area. (Edited by Gu Shanshan)

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Keyword: China marine-economy

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