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Chinese yacht industry has become one of the global hottest markets

News International-French

31 Jan 2013

At present, China's shipbuilding industry has exceeded 68 000 000 tons, rose to first rank in the world.

As a manufacturing power, even during the time that the global economy has been hit heavily by the financial crisis after the year of 2009, China's yacht manufacturing export has reached US $170 million, and has rapidly risen to US $200 million last year.

In just about 10 years of time, China's yacht industry has become one of the global hottest markets.

According to the China Association of the National Shipbuilding Industry “CANSI” ’s forecast, by 2020, China's yacht market scale will reach 50 billion Yuan (US $8.61 billion), in the next 5 to 10 years, the yachts demand will be more than 100,000 including 50,000 demand from the individual consumers.

Calculated on the average price for each yacht of 0.5 to 1 million Yuan (US $ 0.4 to 0.8 million), the yacht industry will be able to create a maximum of 100 billion Yuan (US $17.21 billion) huge market.

And this huge market is still a virgin market basically.

The yacht industry is a complete value chain, which includes new materials, coatings, electronic instruments, meters, power, propulsion system and other dozens of supporting industries.

The minimum annual maintenance fee for a general yacht also exceeds 100 000 Yuan (US $17,210. And yacht is a labor incentive industry, which will create jobs for the local government as well as the tax revenue.

The rise of yacht industry will surely bring up the rapid development of a large number of related industries such as the marina, yacht repair, yacht transportatuib, fuel, water entertainment, catering services, composites material, etc…

Original language Chinese