Zhejiang sets goals to bolster maritime economy

The Zhejiang provincial government recently issued a guideline to develop the province's maritime economy over the 14th Five-Year Plan (2021-25) period.

A coastal province in East China, Zhejiang is set to consolidate its strengths in ocean-related industrial economy, scientific innovation, seaports, trade liberalization, and ecology, with concrete targets to meet by 2025 in these regards.

By 2025, the province's ocean-related industries are expected to gross more than 1.28 trillion yuan ($199.8 billion) per year, accounting for 15 percent of the province's GDP. Emerging sectors and service sectors of the ocean-related industries are expected to contribute 40 percent and 65 percent of the annual revenue respectively.

The proportion of research and development expenses over the annual revenue in the ocean-related industries is set to reach 3.3 percent by 2025.

The total annual cargo throughput and total container throughput in the province's seaports will reach 1.6 billion metric tons and 40 million TEUs respectively. Ningbo-Zhoushan Port alone will contribute 1.3 billion metric tons, the largest quantity among all seaports worldwide, and 35 million TEUs, the third largest quantity among all seaports worldwide. Ningbo-Zhoushan Port will become one of the world's top eight international shipping centers for its comprehensive performance.

The province is also set to build four exemplary seashores and 10 island parks at or above the provincial-level. At least 35 percent of coastal areas on the continent and 78 percent of the coastal areas on the islands should remain natural coastlines.