China’s gross oceanic product surged 6.8 percent year on year to over 7 trillion yuan ($1.02 trillion) in 2016, the State Oceanic Administration (SOA) announced Thursday [16 March 2017]. According to a report released by the SOA on Thursday, the gross product value generated by China’s marine industry accounted for 9.5 percent of the country’s GDP last year…Full Article: ECNS.cn Mar 2017

Key Point

  • In 2016, the value-added of China’s tertiary [service sector only] marine industry totaled CNY 3.84 trillion [~US$557 billion] or 54% of the country’s total maritime value.

ChinaAg Comment

  • In 2015, China’s gross oceanic product was approximately CNY 6.5 trillion (~US$988 billion), a 7% increase from 2014. Roughly 35 million people work in China’s maritime industry.

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