Fuzhou Hosts World Maritime Equipment Conference

At the World Maritime Equipment Conference in Fuzhou, officials highlighted the city’s decades-long effort to build a marine economy, with its gross ocean product growing an average of 6.9% annually during China’s 14th Five-Year Plan and contributing more than 20% of the city’s economic growth on average. Reforms to sea-use approvals, property-rights registration for deep-sea aquaculture platforms and financing policies have helped address barriers to offshore investment, while sensor networks, AI systems and marine equipment support smarter aquaculture and weather monitoring. Fuzhou is also expanding overseas partnerships: one report describes a $300 million fishery investment in Mauritania that has created more than 2,000 local jobs.