The marine industry has emerged as a growth engine for the world economy, a senior official with the State Oceanic Administration (SOA) said at a forum on Friday.

 

SOA's director Sun Zhihui said the marine industry has maintained a growth momentum in the past decades, as the world-wide industry's gross output value rocketed from US$13 billion in 1969 to US$1.5 trillion in 2003, accounting for 4 percent of the world's total economic value.

 

Latest statistics from SOA show that marine industries in China grew 12.2 percent year-on-year to nearly 1.7 trillion yuan (around US$211.2 billion) last year.

 

"It means China's marine industry contributed 4 percent of the country's gross domestic product (GDP), and its growth rate was 2.3 percentage points higher than that of China's economy," Sun said.

 

Many countries, including the Republic of Korea and Malaysia, are committed to developing new marine technologies, enhance utilization of marine resources, and promote bio-tech marine industry, according to Sun.

 

Some developed countries have developed over 20 industries in the sector and China currently has 12 of them, Sun said.

 

(Xinhua News Agency April 29, 2006)