Supporting the ocean economy

By: Feng Chen, Director of Marketing Department, Shenzhen Stock Exchange Nov 2019

Ocean industries have become a major contributor to China’s economic growth over the past few decades. Starting almost from scratch in the 1960s, China now has a maritime economy valued at USD 1.26 trillion, accounting for 9.3% of the country’s overall GDP. In particular, the service sector takes up 58.6% of the maritime economy.

Technology is now a critical driver for innovation in China’s maritime economy. However, funding and commercialising technology have become a pressing challenge for the industry’s further development. Shenzhen Stock Exchange (SZSE) has gradually built up a capital market ecosystem compatible with innovation and entrepreneurship in the marine sector. At present, 54 listed companies of SZSE are running marine resources-related businesses, with a market capitalisation of over USD 45.3 billion and total funds raised of USD 22.7 billion, covering ocean-related information services, marine bio-medicine, equipment manufacturing and other fields.

SZSE has been serving the marine industry and hosting roadshows for over 100 ocean-based SMEs on its V-Next Platform to help them pitch to potential domestic and international investors. In addition, a special display page for enterprises engaged in maritime development was set up on the V-Next official website. SZSE has also built up an investment and financing information database for maritime economy through capital-project matching and roadshows.

SZSE supports the maritime economic development plan of the Guangdong-Hong Kong-Macao Greater Bay Area and the plan to build Shenzhen into a global centre for maritime development. The exchange will strengthen the cultivation of pre-IPO companies in ocean-based industries. It will also continue to hold investment and financing roadshows for innovation-driven, ocean-based technology enterprises. SZSE will diversify financial products such as indices and bonds to better support the sustainable development of the ocean and serve the maritime economy.