Chinese making mark on superyacht industry

HAINAN ISLAND, China — The Chinese are making their mark on the superyacht luxury market, both in building and buying the crafts, according to a report in Business Week.

The market for luxury yachts is still new in China, but Chinese companies are hoping to enter it early, according to the article. Locally, they have a big advantage, since buyers don’t have to deal with 43 percent duties on imported boats. They can also cater to the Chinese buyer: sun decks and water sports options are popular for the U.S. buyer; Chinese buyers want mah jong salons and karaoke facilities.

However, there is still a “made-in-China” bias to overcome in the international market.

To read the entire Business Week article, go to: Made-in-China Superyachts Mark Rise of Local Luxury Brands

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