Yacht Supplies

News: Chinese Yachting Industry – It’s Time to Grow

March 23, 2010 by Yacht Supplies
View large version of image: Chinese Yachting Industry - It's Time to Grow

If the Chinese government begins building upon its strategies for expanding its yachting sector, yachting in no time will become a permanent feature of the Chinese lifestyle. Haikou Mayor, Xu Tangxian believes that in the forthcoming years yachting will boom as a recreational activity in China. Further, he also mentioned about an industrial manifesto, the China Communications and Transportation Association (CCTA) and the country’s yachting organizations unveiled at the time of the Haikou Yachting Industry Forum in the provincial capital of Hainan on Friday.

According to the industrial regulators and analysts, China’s yacht segment might witness a growth at the same pace as that of its automobile market. There are several other luxury brands, including yachts, that experiencing tremendous progress in China. However, the yacht industry is still a new sector compared to the established automobile market and the target customers of the yacht don’t form a large number. Thus, yachting offers a large scope in China, especially for the affluent community wherein yachting signifies opulence.

Also, the Chinese are through with the initial automobile craze. Now the number of the middle class families is growing and so will be the demand for yachting. The 2009-2010 China Yachting Industry Report reveals this and much more on its launch by CCTA’s Cruise & Yacht Industry Sub-association and the Yacht Industry magazine on 19th March. The report aims at convincing the government to lower the taxes on imported yachts, which is at present 40 percent of the total cost. In spite of the fact that primarily only the rich will be able to enjoy the first-class boats, CCTA President Qian Yongchang affirms that this is the appropriate time for China to expand the yachting zone.

Industrial insiders report that during the initial phase, the Chinese might not buy yachts with the same zeal as that for cars or houses. Yacht renting will as a result be a key means for people to enjoy the luxury. One of the initiatives taken towards the development of this sector was when the State Council, China’s Cabinet in December 2009, suggested the governments at all levels to encourage yachting during tourism promotion. Moreover, in January 2010, the State Council requested Hainan Island to chalk out yacht management regulations and get ready to serve foreign yachts.

Hainan Island, a port city, is likely to be the first in adopting the international standards while devising regulations on yachting, exit-entry management and marketing of the recreational vessels. Haikou will construct 1,000 wharves for the pleasure boats in the coming 10 years. Surprisingly, close to 400 of these wharves will be through with the work by the end of 2010.

Add a Related Photo | Add a Related Video 


No Comments - Share Your Thoughts

Leave a comment

You must be logged in to post a comment.

More Chinese Yachting Industry - It's Time to Grow Information:

  1. Letter of Intent for a 68m Superyacht signed by CRN
    lucy

    News: Letter of Intent for a 68m Superyacht signed by CRN

    January 22, 2014 by lucy

    The delivery of the 68m CRN yacht, expected to happen in 2017, is a further step for the shipyard to enter an expanding market, the Chinese one, showing the great …


  2. Alloy Yachts’ 32m superyacht PACIFIC EAGLE available for charter in Fiji
    Yacht Charter

    News: Alloy Yachts’ 32m superyacht PACIFIC EAGLE available for charter in Fiji

    April 22, 2013 by Yacht Charter

    The beautiful Alloy Yachts built 32m luxury superyacht Pacific Eagle will be available for charter in Fiji from May through to October. Sailing Yacht Pacific Eagle was previously based in …


  3. Luxury motor yacht BLUE SKY by Feadship delivered
    black

    News: Luxury motor yacht BLUE SKY by Feadship delivered

    February 7, 2013 by black

    The colourful launch event included a wide range of Chinese influences, including lion dancers. Blue Sky yacht was jointly christened by the owner’s representative (it is traditional for males to …