Yacht economy lifts all boats

The global yachting world turned its attention to Sanya, Hainan province this week as the fifth China International Consumer Products Expo, held from Sunday to Friday in the provincial capital of Haikou, hosted its first dedicated international yachting exhibition in the coastal city, featuring 62 companies from over 20 countries and more than 150 vessels.

The exhibition, held as the expo's first sub-venue in Sanya, aims to foster collaboration across the yachting industry's production, education, research, innovation and investment segments.

At Tuesday's opening ceremony, the Sanya Cruise and Yacht Association issued the "Sanya Initiative for the Yacht Industry", calling on businesses, industry groups, research institutions and governments worldwide to build an open, innovative and sustainable yachting ecosystem.

The proposal seeks to position Sanya as a hub for exploring new pathways for China's yachting sector.

Spanning about 166,800 square meters, the exhibition utilizes existing marina infrastructure, underscoring the city's push to expand its yachting economy.

In recent years, Sanya has enhanced its maritime appeal by upgrading port facilities and diversifying services, including yacht rentals, sales and event hosting. The city has also cultivated niche markets such as yacht wedding photography and educational boating tours. Efforts to lower entry barriers have spurred growth in hybrid marine sectors.

By late 2024, registered yachts in Sanya reached 1,415, and it now hosts 7,300 yacht-related enterprises, accounting for 22.7 percent of China's total, according to Hainan Daily.

Wang Qiyang, Party secretary of Sanya, said the city will continue developing as a core zone for international tourism consumption while advancing reforms in yachting. Plans include integrating yachting with tourism, exhibitions and cultural creativity, with a long-term goal of establishing a full industrial chain — from research and manufacturing to sales and maintenance — in order to solidify Sanya's reputation as the "Yachting Capital of the Asia-Pacific".

Li Gang, director-general of the department of market operation and consumption promotion at the Ministry of Commerce, said China's yachting market has grown steadily due to rising living standards and policy improvements. The ministry will support regions in developing yacht-friendly policies, infrastructure and public marinas while encouraging businesses to innovate with "yacht+" products to expand consumer access.

The yacht show highlights Sanya's ambition to become a global leader in the maritime leisure industry.