Kathmandu— China's marine economy continued to grow steadily in the first half of 2026, with a gross ocean product reaching 5.5 trillion yuan (about 810 billion U.S. dollars), marking an increase of 5.1 percent compared to the same period last year. The Ministry of Natural Resources reported that marine resources supply remained stable and shipbuilding orders surged.

Marine Economy's Contribution

The gross ocean product accounted for 7.9 percent of China’s overall GDP, according to the ministry. This steady growth is attributed to a solid foundation laid by the consistent supply of marine resources across the country. Meng Qinglei, an official from the Ministry of Natural Resources, highlighted that this stability has provided a robust base for further development in the sector.

Shipbuilding Industry Thrives

China's shipbuilding industry saw significant growth during the first half of 2026. New ship orders increased by 105.2 percent, completed deliveries rose by 34.8 percent, and order backlogs grew by 37.1 percent compared to the same period last year. The country maintained its leading position in global markets with market shares of 73.9 percent for new orders, 55.4 percent for completed deliveries, and 63.3 percent for backlog orders.

The sector also optimized product structures, delivering high-quality vessels such as large container ships exceeding 10,000 TEUs, ultra-large crude oil carriers, and large liquefied natural gas (LNG) carriers.

(With inputs from Xinhua)

Originally published on abcnews.com.np.