China association forecasts big growth for boat market

China association forecasts big growth for boat market

Report expects boat ownership to grow from 1,500 to 100,000 in the next decade

A report released by the China Cruise and Yacht Industry Association (CCYIA) on Friday expects boat ownership to grow from its current number of 1,500 to more than 100,000 in the next decade. The boating market will also be worth between 50 billion yuan (US$7.8bn) and 100 billion yuan by 2021.

Zheng Weihang(鄭煒航), secretary-general of the CCYIA, said that there were 300 high-end yachts in China in 2008, but only 102 of them were registered with the Maritime Safety Administration. He said that number has continued to increase dramatically since then. Zheng and others participated in the China Yachting Industry Forum in Haikou(中國海南省海口市), which ended Sunday.

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