Marine economy showing signs of recovery

The Ministry of Natural Resources said on Wednesday that China's marine economy rebounded in the first half of this year, with the gross marine product reaching 4.2 trillion yuan ($620 billion), a year-on-year increase of 1.2 percent.

The traditional marine industry is showing signs of recovery. The output of offshore crude oil and offshore natural gas increased by 7.4 percent and 12.4 percent year-on-year, respectively, the ministry said, and the import and export volume by sea increased by 18.2 percent over the previous year.

Furthermore, about 58 percent of emerging marine industry enterprises saw a year-on-year increase in revenue in the first six months of 2022.