Yachts float toward masses

Some 88% of annual revenue will come from cheaper boats rented out to general public

Sales of yachts are down due to slowing economic growth and the government's austerity policies, but yacht clubs have found a new way to generate income: boat rentals.

According to Yang Xinfa, deputy secretary-general of the China Association of the National Shipbuilding Industry, the yacht industry has been undergoing a sharp decline in the past five years.