Shandong marine economy hits 1.32 trillion yuan

(| Updated : 2021-11-02

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Customs officers verify documentation related to foreign trade containers at an international container terminal of Yantai Port in Shandong province on Oct 12. [Photo by Tang Ke/for China Daily]

The gross ocean production of Shandong province reached 1.32 trillion yuan ($206.24 billion) in 2020, accounting for 18.03 percent of the regional GDP and 16.48 percent of the national marine economy, according to official statistics.

The added value of the province's major marine industries reached 507.3 billion yuan, 92.3 percent of the previous year's figure. With the exception of coastal tourism, the marine oil and gas industry and the marine salt industry, other marine industries all achieved moderate growth.

In the face of the severe impact of COVID-19 last year, Shandong launched a series of policies and measures, including delaying payment of fees for marine use, increasing subsidies for water supply and electricity consumption, and increasing financial incentives, to help marine-related enterprises tide through the difficult period.

Last year, the added value of marine transportation in Shandong reached 114 billion yuan, up 4.8 percent year-on-year, ranking first in China. Container throughput totaled 31.91 million TEUs, up 6 percent year-on-year.