China's gross ocean product tops 1.3 trln yuan in H1

Source: Xinhua | July 19, 2009, Sunday |

Online Edition

CHINA'S gross ocean product (GOP) topped 1.386 trillion yuan (US$202.96 billion) in the first half, according to an initial assessment by the State Oceanic Administration (SOA).

The figure represented an increase of 6.9 percent over the same period last year, accounting for 9.91 percent of the country's gross domestic product (GDP), SOA vice director Wang Hong said at the opening of the first China Ocean Forum in Zhuhai, a city in southern Guangdong Province, today.

"The country's GOP represented a further growth in the first half despite the world financial crisis, and will become one of the new economic engines in the future," Wang said.

Initiatives by local governments in coastal areas to develop ocean-related industries were the main contributing factor to the growth in GOP, Wang said.

GOP is a component of a nation's GDP, reflecting development of ocean-related industries, including oil and gas production, fisheries, tourism and maritime transport.

GOP increased by 11 percent year on year to hit 2.97 trillion yuan in 2008, accounting for 9.87 percent of the country's GDP.

Economy

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China's gross ocean product tops 1.3 trln yuan in H1

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