China State Planner deputy director Ma Weichen said on Nov. 3 that during the 15th Five-Year period the agency will push to upgrade the marine economy via new technologies, industries and spatial development. Policy will reinforce core sectors — marine equipment manufacturing, shipping and fisheries — and accelerate development of marine biopharma, marine new materials and marine electronics. China’s marine GDP is expected to exceed 13 trillion yuan by 2030.

Guangdong’s consumption expansion plan says the province will tap central budget investment and ultra‑long special sovereign bonds to fund consumption infrastructure and trade‑in schemes, and deploy central pilot funds for internationalized consumption and new consumption models to expand service consumption. It urges commercial banks to use structural monetary‑policy tools — re‑lending for service consumption and elderly care, re‑lending for agriculture and small firms, and rediscounting — to increase credit to service consumption and elderly‑care sectors. The plan directs fiscal‑financial special funds to implement interest subsidies for personal consumer loans, service‑sector operating loans, start‑up guarantee loans and SME loans; encourages financial institutions to broaden consumer‑finance products, including tailored financing for AI‑product purchases; asks insurers to offer products for auto, appliance and home purchases; and promotes digital RMB payment integration into consumption scenarios.

Iranian state media reported an oil tanker struck a mine and caught fire in the eastern Strait of Hormuz.