New generations important for blue economy

The youth should be given a significant role in the construction of blue economy partnerships to further tap the potential of ocean resources, said government officials, industry experts and think tank analysts on Friday.

The World Bank describes the "blue economy" as sustainable use of "ocean resources for economic growth, improved livelihoods and jobs, while preserving the health of marine and coastal ecosystems", with focus on fields like renewable energy, fisheries, maritime transport, waste management, climate change and tourism.

The youth are going to be a major force in the sustainable use of the oceans and their resources for economic development, said Hu Bo, dean of the Peking University Center for Maritime Strategy Studies, during the first RCEP Youth Dialogue held online on Friday.

The dialogue was co-hosted by China Daily, the China Institute for Reform and Development and the China Oceanic Development Foundation.

The event aims to enhance youth exchanges and cooperation in the RCEP region, pool the strengths of youth, and promote regional prosperity and development.

"We should step up policy support for the youth, especially in emerging services sectors and tourism, where the youth have been playing a key role, and in the ocean economy, or the blue economy, which has become key to our efforts to curb climate change and other environmental challenges facing the world today," Hu said.

His view was echoed by Guo Wenqin, head of research on Hainan Free Trade Port at the China Institute for Reform and Development.

According to Guo, the youth have become the major consumers of outbound tourism in recent years in China. Those aged between 25 and 44 accounted for more than 60 percent of outbound tourism in 2019, while around 40 percent of the Chinese tourists who go on cruises are aged between 20 and 49.

The tourism markets of 15 RCEP member states also have huge potential that can be tapped in the years to come, while the market for ocean tourism, especially cruises, has been witnessing a rapid recovery in recent years, she said.

It is expected the global cruise industry will recover to the 2019 level by the end of this year, and see a whole round of recovery in 2023, she said.

Hainan Free Trade Port should further seize the opportunities presented by the RECP and make the most of its unique geographical and policy advantages to jointly push forward tourism cooperation with RCEP member countries and further unlock the potential of the tourism market.

Experts also emphasized the importance of financing ocean-related economic activities, which will ensure the future sustainability of this vital resource and help combat threats that pose a risk to humanity. They called for more investment in sustainable ocean economy activities.