Core Insights - The article emphasizes the strategic importance of the ocean economy in China's development, highlighting its role as a key engine for high-quality growth [1][8] - It discusses the innovative financial models being implemented to support the sustainable development of marine industries, particularly in Shandong province [2][11] Economic Impact - China's marine GDP is projected to exceed 10 trillion yuan in 2024, reaching 10.54 trillion yuan, with a year-on-year growth of 6.4%, accounting for 7.8% of the national GDP [1] - Shandong province leads in marine economic development, with a marine GDP surpassing 1.8 trillion yuan and 59 national-level marine ranch demonstration zones [1] Financial Innovations - The EOD (Ecological Environment-Oriented Development) model is being utilized to address funding challenges for ecological projects by combining low-revenue ecological initiatives with profitable industrial projects [3][4] - The Agricultural Development Bank of China approved a credit line of 1.39 billion yuan for the EOD project on Yangma Island, demonstrating a successful financial model for ecological and industrial integration [5] Insurance Mechanisms - The introduction of tailored marine insurance products has provided financial security for marine enterprises, allowing them to expand operations despite environmental risks [6][10] - The wind index insurance specifically designed for marine aquaculture has shown effectiveness, with quick claims processing enhancing the confidence of businesses like Zongzhe Technology [7][10] Growth Trends - Financial support for marine enterprises in Yantai has seen a significant increase, with loans reaching 74.34 billion yuan by the end of Q3 2024, a year-on-year growth of 34.9% [9] - Nationwide, various coastal regions are actively developing financial instruments such as blue bonds and marine industry funds to support long-term investments in marine projects [11]

Core Viewpoint - China Life Property & Casualty Insurance has been recognized for its innovative "data-driven blue insurance model for marine ranching," establishing a benchmark in the insurance industry for supporting the marine economy and the construction of "blue granaries" [1] Group 1: Innovation in Marine Insurance - The marine ranching risk management platform integrates 20 data resources, including remote sensing and ocean environment data, enabling comprehensive monitoring of aquaculture risks [1] - The platform provides tailored risk warning thresholds and timely disaster prevention services to marine ranch operators, enhancing decision-making with precise risk alerts [1][2] Group 2: Development of Index Insurance Products - China Life Property & Casualty is focusing on index insurance innovation, developing products like sea cucumber high-temperature index and oyster wave height index, which trigger payouts based on observable indices rather than actual losses [2] - This approach addresses the challenges of loss assessment and slow claims processing, making the insurance process more transparent and efficient [2] Group 3: Financial Support for Marine Ranching - The company collaborates with China Life Group's Guangfa Bank to provide integrated "insurance + credit" services, facilitating loan access for marine ranch operators through policy pledges and insurance credit enhancement [3] - In 2024, a customized insurance solution for a salmon farming project secured a loan of 50 million yuan, demonstrating the financial leverage provided by insurance [3] Group 4: Expansion and Impact - The insurance services have expanded to cover nine provinces, providing risk protection for over 470 marine ranches and fisheries, with total coverage exceeding 1 billion yuan and claims paid amounting to nearly 74.2 million yuan [3] - The company aims to deepen structural reforms in marine insurance, enhancing risk management tools and financial services to support technological innovation and industry upgrades in the marine sector [4]