Yacht Consultants Asia Limited reveals that the yacht industry in China may be nascent but is booming. This is exemplified in the fact that so many millionaires are now investing in megayachts which were earlier unknown in this Communist country. Yacht Consultants Asia Limited set up a branch in Sanya.
They also have their presence in Hong Kong, Shanghai and Shenzhen. though people are buying yachts, government regulations do not allow them to sail which is a catch 22 situation.
In fact, like most countries that follow socialist or communist principles, everything in China is a catch 22 situation. Lin Mingkun, Head of Visun International Yacht Club however feels that if the government publishes regulations and related standards, there would be more transparency.
Ferretti, the world’s largest luxury yacht producer has launched a yacht in Sanya which measures 20 meters. In fact, Sanya is located on Hainan which is being touted as the next Hong Kong, and is going to host a luxury yacht expo. It would be intere3sting to see how the nascent yacht industry would develop in China.
Via: English CCTV