Smooth sailing ahead for yacht industry in China

In contrast to the waning fortunes of the global yacht industry, the sector in China is enjoying increased output and consumption, which makes the nation one of the most important emerging markets for international yacht manufacturers and dealers.

According to the 2014 Chinese Yacht Industry Report released on Thursday by the China Cruise & Yacht Industry Association, the output of the yacht manufacturing industry was worth almost 8 billion yuan ($1.2 billion) last year.

By the end of 2014, there were a total of 16,000 yachts of various kinds in China, among which nearly 4,000 are business recreational yachts, while remainder were sailing boats and speedboats.