Central Financial and Economic Affairs Commission Emphasizes High-Quality Marine Economy Development

On July 1, the Central Financial and Economic Affairs Commission held its sixth session to deliberate on advancing the marine economy through high-quality development, as reported by Xinhua News Agency. The meeting emphasized the importance of bolstering top-level design, expanding policy backing, and actively involving social capital in this sector. Enhancing autonomous innovation in marine science and technology, fortifying core scientific resources, and cultivating both industry leaders and innovative small- to medium-sized enterprises were identified as key objectives.

The commission also highlighted the strategic development of the marine industry. Key initiatives include accelerating offshore wind power, promoting modern deep-sea fishing, and supporting the marine biopharmaceutical and bioproducts sectors. Additional proposals focused on establishing marine cultural and tourism destinations and driving high-quality growth within the shipping industry. The agenda further called for stronger bay area economic planning and better integration and coordination of coastal port infrastructure. On environmental matters, the commission emphasized continuing comprehensive marine ecological restoration, encouraging layered and multifunctional sea use, and exploring frameworks for marine carbon sink accounting.

According to the 2024 China Marine Economy Statistical Bulletin issued by the Ministry of Natural Resources on February 24, the national marine economy reached 10.5438 trillion yuan in total output last year—a 5.9% year-on-year increase—representing 7.8% of China’s GDP. The 2025 government work report clearly defines the marine economy as a strategic development priority, including the establishment of national demonstration zones. In line with this directive, several key provinces have introduced related policy actions.

At the Guangdong Provincial Marine Economy Work Conference held in Guangzhou on June 26, officials emphasized boosting future-oriented industries such as marine renewable energy, ocean engineering, and marine biotechnology. The province plans to shape a modern marine enterprise system and enhance the competitiveness of supporting industries. Additional focus will be placed on modernizing marine services, expanding marine tourism, promoting maritime logistics, and improving the overall framework supporting the marine economy.

On June 25, Shanghai unveiled the Shanghai Marine Industry Development Plan (2025–2035) (Draft for Public Comment). The draft outlines initiatives including a proposed Marine Economy Promotion Ordinance and the potential creation of a dedicated marine industry development entity. The plan also explores establishing a municipal-level investment fund to mobilize public and private capital for key industry segments.

Tianfeng Securities, in a recent report, noted that China’s marine economy has surpassed the 10 trillion yuan threshold. Rapid expansion in shipbuilding and marine power technologies has created a robust base for the development of deep-sea capabilities. The report projects rising efficiency in deep-sea resource extraction, which could support the establishment of a strategic reserve system and facilitate the sector’s evolution from shallow-water operations to a comprehensive value-chain model encompassing exploration, extraction, and refinement.