With fishery resources of the South China Sea fully exploited and on the verge of exhaustion, facilitating the fishing industry's transformation and supporting local fishermen to shift to new fishing industries is at the top of the Sansha government's agenda.
Sansha, the country's southernmost city, is responsible for more than 200 small islands, sand banks and reefs.
Sansha Mayor Xiao Jie said the fund will be used to develop aquaculture, an aquatic products processing industry, a distant fishery and marine tourism.
The government will also provide 2.8 million yuan in subsidies to fishermen and employees on the islands.
