Blue economy to sustain growth momentum

Shanghai shifts focus to ocean related resources as city taps new seams to maintain high-quality edge in region

The blue economy has become a major growth driver of Shanghai's economy, by accounting for 28.1 percent of the city's GDP last year, and is fast approaching the trillion yuan level with strong growth momentum, according to the local Oceanic Bureau.

The blue economy comprises economic activities that create sustainable wealth from the world's oceans and coasts. In the past five years, the marine economy of Shanghai increased from 621.7 billion yuan ($87.6 billion) in 2014 to 918.3 billion yuan in 2018, accounting for 11 percent of the nation's total, said Yu Weidong, a deputy director from the Shanghai Oceanic Bureau.