9 trillion yuan output of China’s maritime economy in 2022

China’s Ministry of Transport revealed that the total output of the country’s marine industries reached 9 trillion yuan in 2022.

The Ministry released the statements at a forum on the occasion of China’s 19th Maritime Day celebration in Tsangzhou, Hebei province, northern China, which will host a special week-long event featuring activities such as academic conferences, exhibitions and scientific promotion.

According to the Ministry’s report, about 95 per cent of China’s foreign trade goods are transported via shipping.

Last year, the country’s port cargo volume was 15.7 billion tons, and container shipment totalled about 300 million equivalent containers, up 0.9 per cent and 4.7 per cent year-on-year, respectively.

By the end of 2022, China’s freight fleet had reached 370 million tons of static weight, twice as high as 10 years ago, and the scale had jumped to second globally, according to Xinhua News Agency.

In addition, China’s State Council issued a circular on encouraging reproduction of the recent reform experience tested in pilot free trade zones across the country.

The circular revealed a total of 22 reform actions nationwide, covering investment and trade facilitation, innovation in governance, innovation in financial openness, high-quality industry development and intellectual property protection.