Heading south to Guangdong, major investment! Liu Qiangdong officially announces: Hoping to have a yacht worth 100,000 yuan, so that the working class can also afford it

On February 24, the Daily Economic News reporter learned that JD.com founder and Chairman Liu Qiangdong announced today the creation of an independent yacht brand, Sea Expandary. The company will invest 5 billion yuan in Guangdong and plans to develop the entire yacht industry chain, including R&D, manufacturing, sales, operations, leasing, brokerage, and services. Liu Qiangdong stated that this investment is personal and he will not be directly involved in management. He also expressed hope that in the future, industry-standard yachts costing around 100,000 yuan will become available, making yachts accessible to ordinary middle-class workers.

Sea Expandary will focus on new energy intelligent yachts. Additionally, the reporter learned that today, Sea Expandary signed strategic cooperation agreements with governments in Shenzhen, Zhuhai, and other areas. The company plans to invest in building a yacht manufacturing base in Zhuhai, establish the Chinese headquarters for the yacht business in Shenzhen, and participate in the construction and operation of multiple docks and supporting facilities in Shenzhen.

Public information shows that currently, mainstream mid-range small yachts typically cost around 500,000 to 1 million yuan. The specific price depends on factors such as yacht size, power system, interior configuration, and more.

According to China National Radio on October 24, 2025, China has established a globally leading shipbuilding industry system, laying a solid foundation for yacht economic development. Data indicates that in 2024, China’s shipbuilding industry ranked first in the world for 15 consecutive years in total completed tonnage, new orders, and backlog orders. The global market share reached 55.7%, 74.1%, and 63.1%, respectively. China has gained overwhelming advantages in oil tankers, cargo ships, container ships, and other fields, and has achieved technological iterations from bulk carriers to high-value LNG ships.

“Yachts have higher technological content and added value, and their development will drive the coordinated growth of high-end industries such as composite materials, precision instruments, navigation and communication, and interior design,” said Shen Jianguang, Chief Economist of JD.com. He believes yacht manufacturing will become a new driver of productive forces.

Moreover, the yacht economy has become an important lever for expanding service consumption. “Yachts are not only a symbol of high-end equipment manufacturing but also a key node in driving tourism, education, finance, training, and other service industries,” Shen Jianguang added.

It is also noted that the development potential of yacht consumption in China is very large. Service retail sales in China, which grew rapidly at 20% year-over-year in 2023, slowed to about 5.1% by August 2025. To unleash the potential of service consumption, new growth points need to be found quickly. According to data from the Cruise and Yacht Branch of the China Transportation Association, China’s yacht ownership was about 45,000 vessels in 2024 (including unregistered fishing boats and sailboats). There are nearly 15,000 yacht berths, far below the 11.67 million in the United States. The future market potential for yacht consumption is enormous.

Currently, China State Shipbuilding Corporation’s self-developed “Smart Yacht No. 1” has become an industry benchmark. This yacht features integrated intelligent navigation, security monitoring, and equipment operation. According to data from the Asian Yacht Show, the penetration rate of new energy yachts will exceed 20% by 2025, demonstrating China’s technological confidence in transitioning from a shipbuilding power to a yacht industry powerhouse.

Image source: China State Shipbuilding Corporation website

In recent years, China’s yacht economic policies have formed a closed loop from “top-level design” to “local implementation,” clearing obstacles for industry development. In 2022, the Ministry of Industry and Information Technology and four other ministries jointly issued the “Implementation Opinions on Accelerating the Development of Cruise and Yacht Equipment and Industry,” explicitly promoting “popularization of yacht consumption” at the national level for the first time, setting the tone for industry development.

At the local level, innovation and deepening efforts continue. In November 2024, the General Office of the Guangdong Provincial Government issued the “Action Plan for High-Quality Development of the Yacht Industry (2024–2027),” dividing yacht activities into four categories: leisure sightseeing, competitive sports, etc., establishing multi-department coordination mechanisms, and aiming for the yacht and related industries to exceed 100 billion yuan by 2027. The pilot programs for yacht free travel in Guangdong, Hong Kong, and Macau have been implemented, with six border ports such as Nansha in Guangzhou and Shekou in Shenzhen adopting “dual license” management and innovative no-guarantee policies, greatly improving passage efficiency.

Hainan Free Trade Port leverages policy advantages to realize “zero tariff” imports of yachts. In the first half of 2025, Hainan’s yacht arrivals and departures reached 132,000 trips, serving 971,000 tourists, accelerating the creation of a national yacht consumption center. In June 2025, Tianjin also announced plans to establish a sound yacht management system by the end of 2026, creating a distinctive maritime leisure tourism brand.

Source: Daily Economic News

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