Hainan yacht industry buoyed by policy vision

Yachts moor in a port in Sanya, Hainan province, in February. (ZHAO YINGQUAN/XINHUA)

Almost every morning, the coastline of Sanya in Hainan province transforms into a shimmering spectacle, with a flotilla of yachts moored at bustling ports poised to set sail on their maritime adventures.

Sanya, with its abundant aquatic resources and favorable tropical climate, has emerged as a magnet for international and domestic visitors eager to embark on yachting trips and enjoy blue skies and sparkling waters.

"Except for occasional typhoons, Sanya can almost achieve more than 350 seagoing days throughout the year," said Gao Yongning, deputy director of the cruise and yacht department of the Sanya Central Business District Administration.

Hainan is home to over 13,000 yacht-related enterprises, and boasts 14 operational marinas and 2,511 yacht berths.

Sanya, a southern coastal city of the province, has emerged as a standout destination for leisure activity. More than 7,300 yacht enterprises, making up 22.7 percent of China's total yacht-related businesses, were located there as of June, according to a report by Hainan Daily.

The city also accommodates a registered yacht fleet exceeding 1,400 vessels, according to the Sanya Maritime Safety Administration, with the number exceeding its reputation as the "city of 1,000 yachts".

In the first half of the year, yachts made around 58,000 port entries and exits in Sanya, which received about 367,000 visitors.

During the 40-day Spring Festival travel season, 30,944 port entries and exits were recorded and 212,154 visitors were welcomed. The numbers were a record for the holiday period, the administration said.

Free trade benefits

The establishment of the Hainan Free Trade Port has emerged as a catalyst to propel Sanya's yacht tourism. In 2021, Hainan introduced a zero-tariff policy on vehicle and yacht imports, exempting registered enterprises in the province's transportation and tourism sectors from import duties on vehicles, aircraft, ships, and yachts.

In July 2022, the government in Hainan issued regulations aimed at accelerating the growth of the yacht industry in the free trade port. These regulations enable overseas residents working in Hainan and holding a residence permit to apply for yacht registration in Hainan, bolstering efforts to boost yacht sales.

On Feb 5, 2024, the Sanya Central Business District Special Fund Incentive Measures for Cruise And Yacht Industry Development was announced.

The fund provides incentives and support for the development of the yacht industry in five aspects: operational rewards; operational space subsidies; scientific and technological innovation support; fixed asset investment incentives; and incentives for the sale of new energy yachts.

"Following the introduction of regulations and policies, the yacht-leasing sector has entered a period of rapid growth," said Liu Yangliu, general manager of Hainan Visun Yacht Industry Development (Investment) Group.

Wakesurfing, a favorite water activity among younger people, is also gaining greater attention.

Chen Xiaoyu, executive director of Sanya Serenity Marina, said there has been an influx of wakesurfing clubs in the area in recent years, with over 50 wave-making boats mooring at the marina.

The development of the yacht industry has also dovetailed with sectors such as wedding photography, catering, event hosting, and provision of accommodation, which have also enjoyed notable success.