China Releases 12th Five-Year Plan for the Marine Economy
Feb. 1 – Having realized the increasing importance of the “blue” economy for its future development, China raised the development of its marine economy to a part of its national-level strategy in the 12th Five-Year Plan for Economic and Social Development.
In response, China’s State Council released the “12th Five-Year Development Plan for National Marine Economy (guofa  No. 50, hereinafter referred to as the ‘Plan’)” on January 17, 2013, which summarizes the major achievements of the country’s marine economy during the 11th Five-Year Plan (2006 to 2010) and puts forward the major development goals for the marine economy by 2015. Detailed information can be found below.
Major achievements of China’s marine economy development during the 11th Five-Year Plan are listed as follows:
- The marine economy registered an average 13.5 percent annual growth, reaching RMB4 trillion in 2010
- The marine economy created 33.5 million jobs by the end of 2010
- The marine economy took up 9.9 percent of the national GDP and 16.1 percent of the GDP in coastal areas in 2010
- The added-value of the seawater utilization industry reached approximately RMB900 million in 2010
- The added-value of the marine renewable energy industry reached approximately RMB4 billion in 2010
Major development objectives by 2015
- The marine economy will create 2.6 million new jobs and contribute 10 percent of the national GDP by 2015
- The total output value generated by the marine economy will grow 8 percent annually through to 2015
- Research and development expenditures will take up 2 percent of the total output value of the marine economy by 2015
- The contribution rate of marine science and technology to the marine economy will be over 60 percent by 2015
- The added-value of the marine services industry will grow 9 percent annually through to 2015
In 2012, the total output value of the marine economy exceeded RMB5 trillion, up 25 percent year-on-year.
The Plan also proposes to accelerate the restructuring and upgrading of traditional marine industries while also promoting the development of emerging marine industries such as marine engineering equipment manufacturing, seawater utilization, marine medicine and biological product manufacturing, and marine renewable energy.
You can stay up to date with the latest business and investment trends across China by subscribing to The China Advantage, our complimentary update service featuring news, commentary, guides, and multimedia resources.
- Previous Article China Releases Announcement on VAT Determination for Direct Selling Enterprises
- Next Article China’s First National Standard on Personal Information Protection to Take Effect