Chinese marine economy to hit 10% of GDP by 2015

BEIJING - China is aiming to expand its marine economy output to 10 percent of its GDP by 2015, according to a government plan issued Thursday.

The plan, issued by the State Council as an outline for China's marine economic development during 2011 to 2015, sets an annual 8-percent growth rate for the marine economy's gross product value.

The gross product value generated by China's marine industry exceeded 5 trillion yuan, or $802.6 billion , in 2012, the State Oceanic Administration announced last week.

The administration said the total marine output volume in 2020 is set to be double that of 2010, which stood at 3.84 trillion yuan.

According to the plan, China will advance the establishment of three key marine economic areas -- the Bohai Rim, Yangtze River Delta and Zhujiang Delta -- and make efforts to nurture an array of marine economic growth poles.

The plan highlights the role of oceanic technology, which is expected to account for over 60 percent of the marine GDP by 2015.

It also outlines requirements for upgrading traditional marine industries, promoting a green ocean economy and improving the overall guide for marine economic development.

"China must make use of various favorable factors to maintain the long-term, stable and relatively rapid growth of the marine economy," the plan says.