The ship and marine engineering industry in Putuo district, Zhoushan, Zhejiang province achieved a revenue of 14.12 billion yuan ($1.96 billion) in 2023, a year-on-year increase of 34.8 percent, according to authorities.

Three leading shipbuilding enterprises in Putuo made the "Global Top 10 Ship Repair" list, and four ship repair companies achieved an annual output value of over 1 billion yuan each last year.

This success can be largely attributed to a series of efforts made by authorities, including advancing industrial green transformation, pursuing technological innovation, and implementing major projects.

Authorities have introduced a host of favorable policies aimed at incentivizing ship enterprises to develop high value-added construction businesses such as VLGC and LNG vessels. Notable achievements include Xinya Shipbuilding's world-first dual-fuel methanol-powered ship retrofitting and the country's first methanol-fueled transportation vessel retrofitting.

Technological innovation is steering digital transformation, with China COSCO Shipping Heavy Industry and Wison Heavy Industry being the only two nationally recognized green ship repair demonstration enterprises.

The development of ultra-high-pressure water rust removal and dock repair green intelligent technologies received industry recognition after being showcased and promoted at the Norway International Maritime Exhibition.

Currently, Putuo has over 70 shipbuilding orders in progress, with delivery schedules extending to the end of 2027. There are a total of 15 ongoing projects related to shipbuilding, with a planned total investment of 5.5 billion yuan.

Putuo aims to nurture at least one enterprise with an annual revenue exceeding 5 billion yuan and five enterprises with annual revenues exceeding 1 billion yuan this year. The revenue from the shipbuilding and marine engineering industry is projected to continue its high growth rate and surpass 15.5 billion yuan by the end of the year.