The China Pelagic Squid Index was officially released on Oct 10 in Zhoushan, East China's Zhejiang province.

Experts said that the index consists of three major indicators, including resource abundance, market price and prosperity indicators.

The index is based on data provided by the China Overseas Fisheries Association, Shanghai Ocean University and Zhoushan's pelagic squid trading platform.

The weekly and monthly reports of the index will be updated and released regularly on the official websites of the association and the platform.

Enterprises dependent on pelagic squid fisheries are easily affected by changes in climate and ocean environment, which is why the index aims to accurately predict the output of squids in specific areas, said Zhao Gang, secretary general of the China Overseas Fisheries Association.

Zhao also pointed out that the index will not only promote the protection and use of marine biology resources but also bolster the pelagic squid industrial chain.

According to local authorities, Zhoushan has become the leading city in China when it comes to pelagic squid fisheries.

Pelagic squid fisheries make up an important part of China's overseas fisheries, and China leads the world in pelagic squid production. Its annual output of squids has ranked first in the world for nine consecutive years.

In 2018, the country's annual output of squids surpassed 520,000 metric tons, bringing in a total revenue of 7 billion yuan ($987.60 million), accounting for approximately 20 percent of the global output.