sail-world.com
 
 
News Home Video Gallery Photo Gallery
Sail-World.com : China Cruise & Yacht Industry Association predicts boat sales of US$8.
China Cruise & Yacht Industry Association predicts boat sales of US$8.


'China (Shanghai) International Boat Show. Everything’’s getting bigger...'    Guy Nowell ©    Click Here to view large photo

According to the annual report of the China Cruise & Yacht Industry Association, the number of leisure boats and yachts in China is anticipated to increase to 100,000 by 2020. This, according to a report from China Daily, compares with just 3,000 craft in 2012.

The report sees China’s yacht industry, which comprises in excess of 3,000 companies, entering a new expansion phase over the next few years. As part of this, the value of yacht business undertaken is forecast to rise to around RMB50bn (US$8.16bn) by 2020. Zheng Weihang, Association Secretary, says: 'Government support for marine tourism is also a positive signal for the industry.'

Zheng outlined a need for more yacht sector infrastructure including marinas. China’s strong economy is allowing more people to buy boats, which is underpinning the growth in the yacht industry. He also pointed out that Chinese manufacturers were learning how to build yachts more easily and faster.

Lars Petersen, General Manager of Jebsen Marine, which imports Fairline and Riva yachts, says: 'I think that in the near future, boating will become a new lifestyle for mainland residents who prefer self-driving, just like it happened in Hong Kong. China’s yacht industry is now in its first phase, but it will soon move to the second stage in terms of different usage of boats. The second stage means that customers will increasingly change their use of boats from business purposes to self-entertainment activities, which will add to the demand for smaller yachts to enlarge the clients' portfolios.'

The Association’s view supports this, seeing the increasing number of wealthy people and rising domestic consumption levels being the catalyst for increased yacht demand. The Fortune Character Institute – a luxury industry research and consulting company – said in its China Yacht Report that the total revenue of the country's yacht market reached RMB1.75bn in 2012, with the luxury yacht sector accounting for RMB780m.

Figures from the institute also show that the compound annual growth rate of China's yacht market was 732% from 2006 to 2011, while the growth rate of other luxury items fluctuated. 'The soaring rise means that the consumption patterns of Chinese wealthy people have seen an upgrade, and both the luxury vehicle and yacht sectors will become their targets,' said Zhou Ting, director of the institute. 'But Chinese multi-millionaires, who are about 1.4 million in number and spend RMB1.56m every year on average, are still at an initial stage when it comes to their understanding of yachts.'


by China Daily

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=110267

11:29 PM Sat 15 Jun 2013GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.







News - USA and the World

Rolex China Sea Race 2014 - nip and tuck for IRC honours by RHKYC and Guy Nowell, Sail-World Asia, Hong Kong


























HUD Vision: An interview with Afterguard Marine’s Alex Moret *Feature by David Schmidt, Sail-World USA Editor, Seattle














America's Cup: Expected de Ridder penalty should be reduced *Feature by Richard Gladwell/Sail-World.com/nz, Auckland, NZ
















Congressional Cup - Victory for Taylor Canfield and crew by Rich Roberts (As Amended by ISAF),




2014 Halifax – Saint-Pierre Ocean Race by Patricia Nelder, Nova Scotia






Christmas Caribbean Rally - Top class sailors to compete
Earth Day boater tips
Anna Tunnicliffe - from CrossFit to Extreme 40's
Charleston Race Week - Photos by Chris Howell
Image Gallery: Stratis SL33 flies on the Waitemata
Audi Melges 20- Sperry Topsider Charleston Race Week - Light final day
Clipper Round the World Yacht Race - PSP Logistics prepares for USA
ISAF Sailing World Cup Hyères - Crème of the crop to compete
Congressional Cup: Luna Rossa makes podium in first event
Int 14 World Championships 2015 launch new event website
International Optimist Regatta Clinic and Team Race - Register now!
Congressional Cup: World top rankers finish that way in Long Beach
Sperry Top-Sider Charleston Race Week Day 3 finale
America's Cup: Gino Morrelli outlines the new AC62 design
Doyle Sails New Zealand signs Andrew Brown as One Design Manager
America's Cup: Dean Barker's Blog - A sail with the Duke and Duchess *Feature
29er World Youth Sailing Week Easter regatta - Day 1 and 2 overall
C Thomas Clagett Jr Memorial Clinic/Regatta - Entries start to roll in
50th Congressional Cup: See the delayed coverage and media conferences
Clipper Race 10 Day 27: Closing stages - Qingdao to San Francisco
Canfield, Williams, Bruni, Swinton in Congressional Cup final four   
Sperry Top-Sider Charleston Race Week - Day 2   
Audi Melges 20 Charleston Race Week - Perfect conditions in Charleston   
Oyster Regatta Antigua - Full on ocean conditions for day 3   
PWA World Tour - A taste of things to come at La Torche + Video   
Women's International Match Racing Series kicks off in June   
Melges 32 Audi Tron Sailing Series - Action shots by Max Ranchi   
Clipper Round the World Yacht Race - Frustrating conditions   
Man rescued after falling overboard in Pacific taken to hospital   
Sperry Top-Sider Charleston Race Week 2014 - Youth leading Melges 20   
Congressional Cup - Canfield leads toward Congressional Cup sailoffs   
Sperry Top-Sider Charleston Race Week 2014 - Perfection for Day 1   
America's Cup: Coutts claims ISAF Jury on a crusade, backs Kiwi report *Feature   
Clipper Round the World Yacht Race - Will light winds hamper progress?   
Les Voiles de St. Barth - Preparing to rock Saint Barthélemy waters   
Clipper Round the World Race - OneDLL and Qingdao now in San Francisco   
America's Cup: Emirates Team NZ up against funding hurdle for year *Feature   
Melges 32 Sailing Series Napoli - Day 1 images by Stefano Gattini   
50th Congressional Cup: View the Live racing here   
Melges 32 Sailing Series - Napoli action shots by Max Ranchi   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
X6XL NEW US