In recent years, Sanya has developed its yacht industry, with the goal of making it a leading player in the construction of Hainan Free Trade Port. As of the end of June 2022, Sanya has six yacht terminals, 953 berths, 1,053 yachts, and over 130 registered yacht-related enterprises.
In 2021, about 160,000 yachts in Sanya had journeyed to sea, a year-on-year increase of 47.08 percent, with 1.05 million people traveling on this form of luxury water transport, up 44.55 percent from the previous year.
Meanwhile, construction work on the Sanya International Yacht Center is being accelerated. With a total construction area of 490,00 square meters and an investment of 1 billion yuan ($140 million), this comprehensive project will cover training in how to use yacht-related and aquatic products, as well as their design and development, display, sales, services, and cultural and artistic creativity. It will also house offices as well as offering high-end catering and retail. The project has attracted more than 40 well-known yacht enterprises both from China and overseas. It is expected to be finished at the end of this year and put into trial operation at the start of 2023.
Hainan has implemented various policies to shore up its yacht industry. The Outline of Yacht Industry Development Plan (2021-25) in Hainan released by the Hainan Provincial Department of Transport in June proposed that Sanya should promote the development of the whole yacht industry chain. On July 1, China's first local legislation on the industry, the Hainan Free Trade Port Yacht Industry Promotion Regulations, was implemented.
"In recent years, the policy dividend of Sanya's yacht tourism market has been released, which has optimized the business environment and seen supply and demand explode. Sanya's yacht tourism market is expected to continue to grow at a high level over the next five years," said Hu Xiaoming, a special consultant with the Sanya Central Business District Administration.
