New development index unveiled at marine show

The State Oceanic Administration published a new economic index at the opening ceremony of 2016 China Marine Economy Expo on Thursday in a move to better examine the state of the countr y ’s marine economy and promote its future growth.

The China Ocean Economic Development Index, which consists of three parts — development level, development efficiency and development potential — provides a concrete measurement of how China’s marine economy is growing and a projection of its future progress.

The index is based on 29 indicators, taking 2010 as the year of baseline. The basic index is 100.

T he inde x for 2015 was 119.9, 2.8 percent higher than t h a t o f a y e a r e a r l i e r. T h e average annual growth rate of the index for the 12 th FiveYear Plan period (2011-15) was 3.7 percent.

“It suggests that the marine economy is developing healthily,” said He Guangshun, director of SOA’s Marine Information Center.

The launch of the index comes at a time when marine industries are playing an increasingly important role in C hina’s economy. Wang Ho n g , d i r e c t o r - g e n e r a l o f SOA, said marine industries have become a new driving force behind the countr y ’s growth.

Last year, GDP created by marine and related industries in China reached 6.47 trillion yuan ($938 billion), growing 7 percent from a year earlier and accounting for 9.6 percent of the country’s total.

He Guangshun noted that achievements from marine science and technology have been growing at a fast pace and the number of high-tech professionals in the industry has been increasing.

“A t p r e s e n t , t h e m a r i n e economy has entered a critical period of transforming into one of higher quality and efficiency. Deepening reform and promoting innovation will inject new vitality into the industry,” he said.