Fujian named ocean economy pilot area

16  January 2013

China’s State Council said that Fujian province is the new ocean economy pilot area, the fourth in the country after Shandong, Zhejiang and Guangdong, a statement on the provincial government’s website said on Friday.

The government said that the GDP of marine industries will grow 14 percent annually to 730 billion yuan ($116.9 billion) by 2015.

Fujian province will be developed into a leading ocean economy by 2020.

The central government introduced 39 support policies on areas such as investment, taxation, finance and others.

Economists believe that emerging industries — such as marine engineering equipment, ocean biochemistry, and ocean tourism — will have great potential in addition to traditional industries like fishing and petrochemicals processing.