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Marine Industry Increased Nearly 50%

Among the three industries of China's heating marine economy, its second industry has enjoyed the quickest growth rate of 46.5 percent in 2003, said the State Oceanic Administration (SOA).

Last year, the second industry, including the marine oil and natural gas industry, the sea salt and sea chemical industry and the oceanic shipbuilding industry, earned an added value of 122.2 billion yuan (US$15 billion), contributing to the country' s marine economy total of 445.6 billion yuan (US$54 billion).

Of China's marine economy, the second industry's nearly fifty percent growth rate is most notable compared to the primary industry with an increase of 6.4 percent and tertiary industries with an decline of 3.8 percent -- due to the adverse impact of SARS (severe acute respiratory syndrome) on seashore tourism, the bulletin shows.

In 2003, the gross product of the marine economy's added value amounted to 445.6 billion yuan (US$54 billion), accounting for 3.8 percent of the national GDP.

However, problems such as oceanic pollution, the marine industry's structural imbalance still exist, said Wang Hong, an official with the SOA.

(Xinhua News Agency February 26, 2004)

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