Report shows increased demand for yachts in China

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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.