An evaluation of the development of the Ocean Economy in China using an Ocean Economic Development Index

Abstract

This paper proposes the concept of a China Ocean Economic Development Index (OEDI), and constructs an index with three dimensions - development level, development efficiency and development potential. Twenty-nine sub-indices are used to generate a comprehensive quantitative evaluation of China’s ocean economic development. It is argued that such an index can play a crucial role in improving the capacity for monitoring and evaluating the ocean economy activities, serving the macro-regulation and control of the ocean economy, facilitating ocean economic structural optimization and adjustment, and promoting the sustainable development of the ocean economy. The application of the OEDI to China’s ocean economy development during the period from 2010 to 2018 has shown that China registered continuous ocean economic development, with growing economic strength, development level, development efficiency and development potential.