The gross ocean product (GOP) topped 1.386 trillion yuan ($202.96 billion) in the first six months, according to an initial assessment by the State Oceanic Administration (SOA).

The figure is an increase of 6.9 percent over the same period last year, accounting for 9.91 percent of the country’s gross domestic product (GDP), Wang Hong, deputy director of SOA, said yesterday at the China Ocean Forum in Guangdong Province.

“The country’s GOP represented a further growth in the first half despite the world financial crisis, and will become one of the new economic engines in the future,” Wang said.

Initiatives in coastal areas to develop ocean-related industries contributed to the growth, Wang said. GOP is part of the GDP, reflecting development of ocean-related industries, including oil production, fisheries, and maritime transport.

GOP increased by 11 percent year on year to hit 2.97 trillion yuan ($434.79 billion) in 2008.

Xinhua