China gross oceanic product sees steady growth in Q1

Updated 2018-04-26 10:40:03 Xinhua

China's gross oceanic product rose 7 percent year on year to 1.8 trillion yuan (about 285 billion U.S. dollars) in the first quarter, according to the Ministry of Natural Resources.

The growth was slightly faster than the 6.9-percent increase for the full year of 2017, the ministry said in a statement.

Marine enterprises saw strong growth in profitability, with the combined profits of 767 companies monitored by the ministry surging 35.1 percent in the first two months.

A total of 2,126 new marine companies in monitored sectors were registered in January and February, up 23.2 percent year on year.

The ministry also said that electricity from offshore wind power facilities surged 75.7 percent to 1.73 billion kilowatt-hours in the first quarter.

China's economy expanded 6.8 percent year on year in the first three months, above an annual target of around 6.5 percent, official data showed last week.

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