Sanya's Yazhou Bay Science and Technology City reaches $858m in GEP

Sanya's Yazhou Bay Science and Technology City has taken the lead in conducting research on its Gross Ecosystem Product (GEP) accounting system. The measured GEP of Yazhou Bay Science and Technology City is 5.94 billion yuan ($858.78 million).

GEP is defined as the total annual economic value of goods and services provided by ecosystems (nature) for human well-being. The GEP consists of three components: the value of material goods, regulatory services, and cultural services.

Taking the year 2020 as a benchmark, Sanya's Yazhou Bay Science and Technology City investigated the natural resources of the park and formed a GEP accounting system with its own characteristics.

The value of the park's material supply is 269 million yuan, accounting for 4.5 percent of its total GEP. The value of its regulating services is 4.69 billion yuan, dominated by local climate regulation and carbon sequestration value. The value of cultural services is 983 million yuan, earned mostly from the leisure and tourism sector.

An official from the park stated that the current GEP accounting system and its results will help to accurately grasp the characteristics of different ecological products.

In the next phase of its investigation, the park will continue to optimize the spatial layout of the park, carry out ecological remediation, and explore the long-term mechanisms for realizing the value of its ecological products.

Sanya's Yazhou Bay Science and Technology City. [Photo/VCG]