Seafood consumption has more than tripled in China over the past 30 years and it is projected to grow even more in the next decade. Driven by urbanization, income growth, and increased awareness of global cuisine, China’s voracious appetite for more and ever increasing species of fish is the driving force behind the growth of the country’s fishing industry and with it Pingtan Marine Enterprises (NASDAQ: PME).
Pingtan is adding more ships to its fleet in 2021 and has secured access to new global fishing grounds in order to keep up with demand. Pingtan is also catering to China’s burgeoning middle and upper classes by creating its own high-margin, premium seafood brand to sell at retail. All of this momentum led Pingtan’s Chairman and CEO, Mr. Xinrong Zhuo to comment, “There’s a lot of positive inertia in our business right now. We are excited about the company’s prospects. The demand in China is increasingly great for our catches.”
Join our webinar on February 3 to hear details on how Pingtan Marine will be reeling in bigger catches in the year ahead.
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