Marine economy set to boom in Xiamen during 14th Five-Year Plan period

Marine economy in the coastal city of Xiamen saw robust development in the 13th Five-Year Plan period (2016-20). Statistics show that in 2020, the output value of Xiamen's marine economy reached 140.53 billion yuan ($22.02 billion), accounting for 22 percent of the city's total GDP.

Xiamen's marine economy is expected to embrace high-quality development during the 14th Five-Year Plan period (2021-25) as it has recently been guaranteed a leading city status in developing marine sectors in East China’s Fujian province.

The municipal government released two marine economy development plans, which noted that efforts should be made to enhance Xiamen's role in bolstering the province's marine economy.

Build a modern marine industrial system

In 2020, the added value of Xiamen's emerging marine industries totaled 52.44 billion yuan, growing by 4.24 percent year-on-year, taking up 37.3 percent of the total output value of the city's marine economy. Statistics have shown that emerging marine industries have grown into new growth drivers of Xiamen's marine economy.

According to the newly released development plans, Xiamen will set up strategic emerging marine industrial clusters by promoting the commercialization of scientific and technological achievements, accelerating cross-border integration, and reinventing business models.

Efforts will be made to speed up the construction of a national demonstration zone for the marine economy. Marine biological industries will also be cultivated, and build global supply bases for marine products.

Xiamen will foster new drivers of growth for marine economy, such as building itself into a Southeast International Shipping Center, improving the efficiency of the ocean shipping transportation system, as well as boosting the coastal and marine tourism industry of Xiamen.

The plan noted that as of 2023, Xiamen will set up a modern marine industrial system, which is expected to be supported by emerging marine industries, modern fisheries, port logistics, and high-end coastal tourism.

Promote scientific and technological innovation

In Xiamen, rich marine resources and a solid industrial foundation are the city's major advantages in developing the marine economy.

The Xiamen government has stepped up efforts to improve basic research capability, and build a batch of marine scientific research institutions, aiming to promote the innovative development of marine science and technology.

In order to promote the commercialization of scientific and technological achievements, Xiamen has sped up the deep integration of industrial and innovation chains. A wide range of supportive measures have been rolled out to further stimulate the vitality of scientific and technological innovation.

A high-tech industrial park for marine industry is expected to be built in Xiamen, which will push forward the development of high-end marine industries such as marine medicine and biological products, advanced maritime equipment, and new marine materials.

Supported by strong scientific and technological prowess, the output value of Xiamen’s marine industry will reach 300 billion yuan by 2025, which is estimated to account for 30 percent of the city's total GDP. The layout of the city’s marine economy will be further improved, in an effort to build it into a modern and strong marine city.

Further opening-up

As a key port city of the 21st Century Maritime Silk Road, Xiamen will deepen trade exchanges and cooperation of countries and regions along the road, according to the development plans.

The city will beef up efforts to attract world-class marine enterprises and core technologies, encourage Xiamen enterprises to go abroad, and deepen opening-up and cooperation in the marine economy. Xiamen will also explore ways to build a new cooperative mechanism for marine industry, to actively engage in international exchanges and cooperation in ocean field.

By 2035, the influence of Xiamen as a global marine center will be significantly enhanced, according to the city plan. The city will develop itself into a world-class port, an international coastal tourism city, an ocean cultural exchange center for countries and regions involved in the Belt and Road Initiative, as well as a global model for marine ecological governance.