20In China, the component of the account being mainstreamed for strategic planning and policymaking is the economic account, while the rest are either only partially piloted at the local level or studied in research. There is a need for developing a comprehensive ocean accounting approach to advise policies and ensure economic growth does not compromise ocean health. Improving ocean accounting is crucial for informed decision-making in the SBE. Non-market ecosystem services should complement ocean economy satellite accounts but should not be integrated into one macroeconomic aggregate. Incorporating metrics related to ocean health, ecosystem services and the link between natural capital and economic productivity into national accounts is a key strategy for implementing an SBE. For China, besides the sustainable transformation of the ocean industries, a vital next step toward an SBE is the integration of more environmental and natural capital- related information into its existing accounts, which should fully reflect the health of the marine environment and the development and societal contributions of the SBE. China could benefit from engaging with GOAP, which aims to incorporate marine sectoral and environmental data into national decision-making, and participate in the co- development of international standards. Due to the varying data foundations and accounting methods among countries, comparing the development of the ocean economy on an international scale is still challenging, highlighting the need for enhanced dialogue and collaboration. There needs a stronger alignment between China and the other countries on the scope of ocean-related activities and define them and their respective ratios (i.e., direct effects); then analyze input- output reliance (i.e., indirect effects). The scope should capture a wide range of indicators of the induced effects like labor input, and scientific and technological innovation. Moreover, it is important to research into sex- disaggregated data concerning people, such as labor, so that the differential impact of and contributions to the ocean industry on women and men can be more fully understood. Regular revisions of the ocean industry statistics accounting system and the digitization of the industry data collection and processing are also necessary. 50 McCook, L.J., Cai, L., Yeung, C.W., et al., 2025, “Marine ecosystem services and natural capital in China: Opportunities for improved understanding, valuing, and policy”, PNAS Nexus 2025 May 20;4(5):pgaf110. 3.2.2 Advancing the valuation of marine ecosystem services in China The ocean’s value extends beyond providing essential resources; it also offers crucial ecosystem services such as climate regulation, coastal protection, water conservation, food supply, livelihoods and cultural value. Recognizing these values is vital for sustainable ocean development. Although valuing marine ecosystem services is complex, initiatives like the shared wealth fund by WWF and the attempts of marine ecological capital assessment by the First Institute of Oceanography50 provide a starting point.. China should develop a national approach to valuing marine ecosystem services and integrate these values into policy and economic development decisions. Comprehensive marine data is essential for formulating sustainable blue economic development plans and improving the marine industry’s efficiency. However, China currently lacks comprehensive laws and regulations on marine information sharing. Addressing these challenges requires adjusted policies to enhance data collection and analysis, incentivizing public-private partnerships and leveraging technological innovation. Scientific and comprehensive marine data can provide a solid foundation for the formulation of marine economic development planning and policies, as well as assessing the carrying capacity of the marine environment. This data is crucial for improving the efficiency and competitiveness of the marine industry, which is essential for the development of the SBE. China’s ocean observation and data network construction faces two major problems: insufficient ocean observation facilities and incomplete laws and regulations on marine information sharing and service policies. The coverage of China’s marine observation facilities is not wide enough, with certain blind spots and gaps affecting comprehensive monitoring and data acquisition. Additionally, China’s current marine legal system lacks a relevant legal framework for marine information management, including the ownership, collection rights, attribution and transfer of marine information. This has led to monopolization of marine information and wasted national resources, directly constraining the development of the SBE. Patrick Yeung Patrick Yeung Patrick Yeung

Advancing China's Sustainable Blue Economy 2025