THE marine economy is developing at a fast pace in Shenzhen, with prominent international strengths, according to a report on the development of the marine economy in Chinese cities in 2019.
The report was released by a think tank of Southern Finance recently and measures 28 coastal cities, including the seven cities that are eager to be global marine bases. The report covered five aspects including the vitality and degree of opening up of the marine economy, storage of marine resources and innovations of marine technologies and the attractiveness of the marine culture of each city.
Since 2017, seven cities, specifically Shanghai, Shenzhen, Tianjin, Qingdao, Dalian, Ningbo and Zhoushan, have gradually promoted the aim to build themselves into global marine cities.
Vitality of the marine economy refers to the capabilities and potentials of the city in developing the maritime industries. Qingdao and Shanghai took the first two places, while Shenzhen followed the two cities with more than 7,000 business entities involved in the marine economy.
The report shows that the development of cities’ marine economy differs regionally. Among the top 10 cities showing vitality in the industry, southern cities including Guangzhou, Shenzhen and Zhuhai take the lead.
In regards to opening up in marine economy, Shanghai, Guangzhou and Shenzhen show prominence. With the construction of passages across seas and borders among cities in the Guangdong-Hong Kong-Macao Greater Bay Area, foreign trade and international tourism for Guangzhou and Shenzhen will be further boosted.
Shenzhen was highly covered by the media last year because of the 2019 China Marine Economy Expo held in the city.
In 2019, the gross domestic product of the Chinese marine industry was 8.9 trillion yuan (US$1.3 trillion), up 6.2 percent over the previous year.
The total output of the marine economy in Shenzhen reached around 260 billion yuan, accounting for 10 percent of the city’s GDP. The marine economy has become a pillar industry for Shenzhen’s development.
In the future, Shenzhen will strengthen development in the five aspects, optimizing the newly emerged marine industry, and promoting research and scientific transformation in the industry.