China’s maritime economy rises to 1.27 trillion dollars in nine months.

China’s Maritime Economy Reaches 1.27 Trillion Dollars in Nine Months

China’s total maritime output reached 8.5 trillion yuan, approximately 1.27 trillion dollars, during the first three quarters of this year. This figure represents a year-on-year growth of 4.9 percent.

Increase in Oil and Marine Product Production

The Ministry of Natural Resources of China reported a 3.5 percent increase in offshore crude oil production compared to the same period last year. Additionally, the production of marine aquatic products rose by 4.6 percent year-on-year.

Growth in Traditional Maritime Industries

In the traditional maritime industries sector, new shipbuilding orders surged by 98.5 percent. Completed orders increased by 35 percent, while backlog orders grew by 41.9 percent year-on-year.

Coastal Ports and Marine Engineering Equipment

Coastal ports experienced growth in cargo handling and shipping container volumes. Furthermore, the value of new orders for marine engineering equipment skyrocketed by 123.3 percent, capturing over 80 percent of the global market.

Advancements in Desalination Projects

In the field of seawater desalination, China achieved new milestones. The total production capacity of newly launched desalination projects this year exceeded 520,000 tons per day.

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