Marine economy in Xiamen sees steady growth in 2019

The total output value of marine economy in Xiamen, East China's Fujian province rose 10.2 percent year-on-year to 371.1 billion yuan ($52.32 billion) in 2019, according to local news reports on Jan 15.

Official data showed that the added value of marine economy in Xiamen saw a year-on-year growth of 10.74 percent to 143.25 billion yuan.

The structure of Xiamen's marine-related sectors has been greatly optimized, and the shares of the primary, secondary, and tertiary industrial structures were adjusted to a ratio of 0.5: 18.5: 81, a testament to the city's efforts to advance the innovative and high-end development of its marine economy.

The Xiamen government also spared no effort in accelerating marine sci-tech innovation, improving marine development capacity, and fostering and strengthening emerging marine industries of strategic importance.

Last year, the city's emerging marine industries of strategic importance generated a total output value of 110.3 billion yuan, growing by 9.39 percent year-on-year, and have become new growth engines behind the city's marine economic development.

According to the local government, Xiamen has set up information-sharing mechanisms to offer services to the city's marine science and technology startups.

Financial services for marine businesses were also promoted, and the city offered more than 39 million yuan in loans to micro, small and medium-sized enterprises last year, which have greatly reduced financing costs for enterprises and eased their debt burden.

Additionally, Xiamen has strived to promote international exchange and cooperation by hosting a number of marine-themed activities last November, including the 2019 World Ocean Week, which attracted more than 1,500 people from 49 countries and regions, offering the city a chance to conduct international cooperation in the marine industry.