Riding on the crest of a sales wave

China's yachting industry is booming on the back of rapidly rising domestic demand, as Shi Jing reports from Shanghai

Unlike the time when China's yacht industry was still emerging and largely dependent on overseas brands, 2014 has seen more domestic brands catching up with world leaders in the field.

A 22-meter boat from Shanghai Choisi Yacht sold for 17 million yuan ($2.7 million) and Shenzhen-based Speedo Marine, which has taken part in the China (Shanghai) International Boat Show for 10 years, sold three boats during the show for a total of 8 million yuan.