China's marine economy is making waves! 🌊 According to the Ministry of Natural Resources, the marine sector saw a robust growth of 5.6% in the first half of 2024, reaching a whopping 4.9 trillion yuan (about $678.55 billion).
What's even more impressive is that this growth rate is 0.6 percentage points higher than the overall economy from January to June. 📈
The sea area authorized for use expanded by 16.9% year-on-year, with projects worth a total of 500 billion yuan (around $69 billion) underway. 🛠️ The marine crude oil sector grew by 5.6%, while natural gas output jumped by an impressive 10.5%.
Marine engineering equipment manufacturing is riding a comeback wave. The second quarter saw multiple big deals that turned the tide for the market. New orders for marine engineering projects skyrocketed by 205% compared to last year, and the value of holding orders rose by 11.6%. 🚀
Shipbuilding, marine traffic, and cargo throughput are also on the rise. The foreign trade value of ships surged by 87.3%, and offshore wind turbines and parts saw a 32.6% increase. ⚓🌬️
With these impressive numbers, China's marine economy is clearly charting a strong course forward! 🌟
