China's yacht business opens up
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A luxury yacht expo is opening in Hainan's Sanya. BizCHina's Zhou Xiaoye explains the problems facing China's yacht industry and the building of this international tourist island.
This yacht is made by Ferretti, the world's largest luxury yacht producer. It's more than 20 meters long, has three cabins, and can carry 16 people.
Yachting is a comparatively new industry with high added value, long supply chain, and huge investment potential.
Yacht Consultants Asia Limited has set up its fourth branch in Sanya, after Hong Kong, Shanghai and Shenzhen.
Many participating businesses are confident about yachting in China. Although some Chinese people have bought yachts in China, few of them have really sailed because related regulations have not yet been issued.
They hope the government can publish detailed regulations and industry standards as soon as possible.
Lin Mingkun, Head of Visun International Yacht Club, said, "Related standards are being prepared. But what if we finish construction before the regulations are drawn up? We urgently hope government can soon map out proper policies and standards."
In fact, there's a lack of detailed regulations not just in China's yachting industry, but also in the building of an international tourist island.
Executive Supervisor, China Rendez-Vous, said, "We hope the Chinese government can put the visa-free policy into effect as soon as possible, which will make it easier for foreigners to come to Hainan Island. Also we hope the government can work out more detailed regulations, to allow foreign yachts to enter Chinese waters."
The International Tourism Island strategy was launched on the last day of last year, and detailed regulations have now been submitted to the State Council.
