China invests in fishing, aquaculture

By

Catherine Zhang, SeafoodSource.com contributing editor reporting from London, England

Published on
August 23, 2009

As part of a CNY 4 trillion (USD 585.5 billion, EUR 408.6 billion) stimulus package, China has increased its investment in the fishing and aquaculture industries from January to July to CNY 110.3 billion (USD 16.1 billion, EUR 11.3 billion), up 59.4 percent from the same period last year, according to the country's Ministry of Agriculture.

China, the world's third-largest economy, has shown the most resilience against the global economic downturn. Through July, the country's seafood exports were up 16.2 percent, to about USD 850 million (EUR 593.2 million), from 2008.

New investment projects that began at the end of last year and continued through the first half of 2009 contributed to an overall revenue increase in July of 10.2 percent.

China now accounts for 67 percent (34.43 million metric tons) of the world's seafood production, according to a the country's Ministry of Commerce.

After months of slowing results, China's food exports displayed a strong gain in June, climbing 7 percent from 2008.

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