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China’s marine economy stabilizes in first half

China’s marine economy recovered steadily in the first half of 2022, as the country has been striving to respond to COVID-19 and pursue economic and social development in a well-coordinated manner, according to the Ministry of Natural Resources.

According to preliminary calculation, China’s gross ocean product grew 1.2 percent year on year to 4.2 trillion yuan (about 623.1 billion U.S. dollars) in the first half.

For traditional marine industry, the output of offshore crude oil and natural gas increased by 7.4 percent and 12.4 percent from a year ago, respectively.

Cargo and container throughput at coastal ports reported year-on-year growth of 0.1 percent and 3 percent, respectively, said the ministry.

China’s marine emerging industries showed sound growth momentum during the period, with 57.7 percent of companies seeing their revenues up from a year ago.

The country’s marine foreign trade also rose steadily, with the total value of seaborne imports and exports jumping 18.2 percent year on year.
Source: Xinhua

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