Report shows increased demand for yachts in China

Author:
Updated:
Original:

Despite China's robust economy, recreational boating remains an afterthought for most Chinese. Nevertheless, international boatbuilders see the world's second-largest economy as an enticing opportunity for sales growth.

"[D]emand for private yachts has gained traction in China over the past two years,”

China Daily said. “According to the 2010 Hurun Wealth Report, there are at least 875,000 millionaires on the Chinese mainland, and half have indicated they intend to purchase a private yacht."

Click here for the full report by China Radio International.

In related news, the Chinese marina Wuyuan Bay Port Deck recently expanded its capacity from 236 to 300 in preparation for the fourth annual China International Boat Show, which is scheduled to be held Nov. 4-7 on Wuyuan Bay.

The theme of this year’s show is “Yacht: Navigation in the Ocean of Leisure.”

Click here for the full report.

Related

Argos 3D Forward Looking Sonar

For 20 Years, FarSounder has been developing and manufacturing 3D forward-looking sonar for vessels of all sizes.

Dometic Marine Appoints Executives

The company promotes a 20-plus-year employee and adds a vice president of aftermarket sales and e-commerce.

IMEA Launches Scholarship Program

The International Marine Electronics Alliance aims to recruit students into the field of marine technology.

RBFF Campaign Reels in Awards

The fishing-and-boating advocacy group’s Get on Board campaign was recognized by two national public relations organizations.

Suzuki’s Clean Ocean Project

Testing of the engine manufacturer’s microplastics filtering device continues as it moves closer to production. The company also released its full-year financials.

Uflex Adds to Sales and Marketing Team

The company said significant growth during the last few years created the need to add three employees.

NMTA Beats Proposal To Double Excise Tax

It’s just one example of the value of belonging to a state or local marine trade association. Are you a member of an MTA?