Qingdao’s gross ocean product (GOP) for 2023 was officially unveiled, with a year-on-year growth of 6.5%, accounting for about 30% of Shandong Province’s GOP and around 33% of the city’s GDP. As maritime economy increasingly gains momentum in its core, support and periphery layers, driven by the “blue engine”, Qingdao’s maritime economy is continuing to burgeon.

In regard to marine fishery, Qingdao’s output of aquatic products in 2023 hit 1.032 million tons, a year-on-year increase of 3.9% and outperforming the provincial average. In regard to marine engineering equipment manufacturing, China Shipbuilding Design and Research Center located its headquarters in Qingdao. In regard to marine and biological pharmaceuticals, Qingdao vigorously pushed ahead with the “Blue Drug Bank” initiative and made progress on clinical research of  the category one new marine drug BG136.

In terms of marine equipment manufacturing, a number of marine equipment manufacturing projects are being executed in a fast manner. In terms of ocean-related material manufacturing, Qingdao’s industry of anti-corrosive materials for shipbuilding sees increasing demand and improved enterprise performance. In terms of ocean-related services, blue finance continues to step up support for the real economy.  (Li Xunxiang)

1: The sea-rail combined freight trains in Qingdao Port of Shandong  Port Group.