Core Viewpoint - The establishment of the Hainan Free Trade Port and its full island closure operation on December 18 marks a significant opportunity for the development of a China-ASEAN blue economy cooperation market, enhancing Hainan's strategic position as a key hub for this initiative [1][3]. Group 1: Economic Potential - The blue economy represents a vast growth opportunity, with approximately 30% of ASEAN countries' GDP derived from the marine economy, while China's contribution is around 8% [3]. - Currently, marine product trade between China and ASEAN accounts for only 0.6% of total bilateral trade, indicating significant room for growth [3]. - If the share of marine product trade in total trade increases by 1 percentage point, it could unlock nearly $10 billion in new market potential [4]. Group 2: Strategic Advantages of Hainan - Hainan has jurisdiction over approximately 2 million square kilometers of sea area and boasts a coastline of over 1,900 kilometers, rich in tropical marine resources [5]. - The Hainan Free Trade Port will implement core policies of "zero tariffs, low tax rates, and simplified tax systems," which will facilitate the establishment of a strategic platform for the China-ASEAN blue economy [6]. - Hainan's shipping network, including 33 foreign trade routes from Yangpu Port, connects Southeast Asia and South Asia, enhancing its logistical capabilities [6]. Group 3: Industry Transformation - Hainan is transitioning from traditional marine industries to high-value-added sectors, with ongoing projects in cruise tourism and fisheries technology cooperation with ASEAN countries [6][7]. - The province's marine economic output value in 2024 is projected to be 270.7 billion yuan, accounting for only 2.6% of the national total, indicating untapped potential [8]. - The development of new marine tourism sectors, such as cruise tourism, is lagging, with only 59,000 cruise visitors expected in 2024, compared to 1.3759 million in Shanghai [7]. Group 4: Future Initiatives - Hainan aims to create a cruise tourism cooperation network centered on the province, promoting regular cruise routes connecting to ASEAN countries [8]. - The province plans to leverage its free trade port status to enhance seafood imports from ASEAN, establishing a seafood import base [9]. - Future energy cooperation will focus on offshore wind power, with initiatives to develop compatible projects that integrate marine fisheries and renewable energy [10].

Core Viewpoint - The acceleration of maritime economic connectivity and cooperation between China and ASEAN is expected to significantly impact sustainable economic development and promote a new regional maritime cooperation framework led by collaboration [1][2]. Group 1: Blue Economy as a Common Market - The construction of a China-ASEAN blue economy common market is seen as a "blue engine" for economic growth and regional economic integration [2][3]. - Currently, approximately 30% of ASEAN countries' GDP comes from the maritime economy, while China's maritime economy contributes about 8% to its GDP. By 2024, China's marine production value is projected to exceed 10 trillion yuan, growing by 5.9% year-on-year [4]. - Investment of $2 trillion to $3.7 trillion in blue economy sectors from 2020 to 2050 could yield net returns of $8.2 trillion to $22.8 trillion, with an investment return rate of 450% to 615% [4]. Group 2: Economic and Trade Cooperation - Since the signing of the China-ASEAN Free Trade Area 1.0 in 2010, trade cooperation has deepened, with China maintaining its position as ASEAN's largest trading partner for 16 consecutive years [5]. - In 2023, the trade volume between China and ASEAN increased 16.8 times over 20 years, but cooperation in the maritime sector remains fragmented [5]. - The share of marine product trade in total bilateral trade is only 0.6%, indicating significant potential for growth [5]. Group 3: Industry Transformation - Both China and ASEAN face the challenge of industrial transformation, particularly in fisheries, where they account for 80% of global aquaculture and 60% of global fish catch [6]. - The demand for renewable energy in the ASEAN region is expected to increase by 3 to 4 times by 2050, with an annual growth rate of about 6% in renewable power installations from 2021 to 2023 [6]. Group 4: Development of Marine Tourism - Developing maritime tourism cooperation is a significant step to meet market demand and promote connectivity in marine industries [6]. - The global cruise tourism market is expected to recover to a growth rate of about 5% by 2028, with China's cruise tourism market projected to reach 14 million passengers by 2030 [6]. Group 5: Marine Fisheries and Renewable Energy Markets - ASEAN is a major producer and exporter of marine products, with 25% of its total exports going to China in 2024 [8]. - China has invested significantly in renewable energy projects in ASEAN, accounting for about 60% of foreign public investment in the region from 2000 to 2020 [10]. Group 6: Infrastructure and Governance - The development of maritime infrastructure is crucial, as ASEAN countries' port infrastructure is lagging behind, with only 2 out of the top 20 global ports located in the region [15]. - The Regional Comprehensive Economic Partnership (RCEP) is seen as a foundational framework for integrating blue economy rules and standards [16]. - Establishing a cooperative governance framework for ecological resource protection is essential for sustainable development in the South China Sea [18].