The Real Opportunities of Owning in China
With the Chinese high-net-worth individual (HNWI) population on the rise and focus slowly turning toward the luxury yacht sector, we turn our attention toward the experience of owning and chartering in Asia and why the region’s yacht market is gaining so much traction.
“The Chinese yachting industry has got off the ground, developed and matured in recent years,” explains Hainan 2014 Organiser and Visun Group Chairman Lawrence Wang, “playing an important role in China’s yacht and tourism economy, especially that of the international tourism island.”
Home to the Hainan Rendez-Vous itself, Sanya is a perfect example of the luxury cruising opportunities China holds. Sanya’s stunning location is adjacent to Hong Kong, Macao, Taiwan and Southeast Asia, offering a world of experiences whether it’s culture, cuisine or natural beauty. The unspoiled region of Sanya in Southern Hainan is the perfect location for the Hainan Rendez-Vous, given the additional factor of the renowned Sanya Visun Royal Yacht Club.
Occupying its own expanse in the South China Sea, Hainan Island itself is an exquisite green gem unlike any other Chinese region. Blessed with the same crystal waters and velvet beaches of any tropical paradise, the island boasts an impressive array of first-class hotels alongside opulent restaurants and brilliant golf courses.
China’s charter and cruising region provides direct access to the cultural pull of Beijing, the urban charisma of Shanghai or the peaceful tropics of South East Asia.
With untouched beauty in such short distance and vast civilisations in which to dock, it’s easy to see why China’s HNWI population is gradually sparking more and more demand for private yachts. Be it need for escape or entertainment, China is a versatile answer to cruising in which a lot of brokers and builders are cultivating.
After recently opening an office in China, much like Princess, Northrop & Johnson and other widely respected names in the superyacht industry, CEO of Perini Navi Group, Giancarlo Ragnetti noted the importance of the region: “Asia is one of the most interesting new markets ... we feel that it is of fundamental importance to be physically present in the area.”
Not only are a number of brokerage offices taking a firm interest in China, but regional yacht builders are bringing exciting projects to the water and changing attitudes on the nation’s yacht building expertise.
Kingship, one of the forerunning yacht builders in the country, have already introduced the recently launched Star to the luxury community and are pioneering green construction ethos with the highly awaited Green Voyager.
The Raffles Shipyard in China has also been working on constructing the 88m Illusion Project, designed by Rainsford Mann Design. Rupert Mann of Rainsford Mann Designs highlighted the competitive and highly skilled yacht building ethos in China: “The Chinese yacht owner is savvy and will take their time to develop the capabilities in their own country to build large superyachts for reduced build prices compared to similar sized yachts built in the west. The newfound wealth that is emerging will first focus on the smaller yachts up to 40M before venturing into the larger superyacht market.”
With a promising future in the yacht building sector and a charter market which offers crystalline waters, rolling natural beauty and other stunning cruising grounds in close proximity, China is currently undergoing an influx of demand from across the world and offers everything the potential new build client, buyer, owner or charter guest could ask for.