Yacht industry sails ahead
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E-mail China Daily, June 12, 2013
Most Chinese yacht makers mainly exported their production in the past, while others moved into the domestic market earlier and grabbed some market share.
For instance, Zhuhai Sunbird Yacht Manufacturing Co, a major manufacturer in China, posted total revenue of 582 million yuan in 2012, up 46.9 percent year-on-year, according to the company's annual report.
The manufacturer, which has a 47.5 percent market share of China's special yacht market, forecast that they will get and deliver special yacht orders worth 500 million yuan in 2013.
But some other Chinese manufacturers have to deal with dwindling sales due to the lackluster global economic situation.
Dalian in Liaoning province, a city that developed a yacht industry some years ago, has about 15 yacht builders with an annual output of 250 million yuan, but the city's leisure boat industry saw a 50 percent drop in sales in 2012, the CCYIA said.
No more than 20 percent of the yachts made in Dalian are sold to domestic clients and the shrinking global market had a great impact on the companies in the city.
The lack of support facilities is also limiting the sales of leisure boats.
There were 46 yacht clubs in the mainland by April 2013 with 6,404 berths, but berths are still in short supply, the CCYIA said.
That situation also translates into business opportunities for Chinese investors.
The Fortune Character Institute said that marinas are the most promising investment in China's yacht sector.
"The Chinese real estate industry will show stronger interest to invest in the yacht industry," Zhou at the institute predicted.
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