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| Source: sail-world.com |
It seems news from the expanding Chinese consumption will continue. According to Business Week, consumer spending
continues to outpace company investments (retail locations) and company profit
margins are higher as they are able to maintain higher prices due to demand. Last October, China held their first ever Macau
Yacht Show. During the show, Fujian Auto
China Conference and Exhibition Co. and Fuzhou Auto China Yachts Management Co.
made an announcement to create a marina and sales center in Fujian, China. The
marina is set to open this March and will accommodate 40 vessels from 30 to 60
feet and 20 yachts from 80 to 100 feet. The
marina also has plans to later expand creating berthing for 200 plus large to
medium-sized yachts. The sales center is
also set to open in March and will feature 100 plus worldwide boat brands. The chairman of Fujian Wanzi Yacht Sales Co
Ltd, Mr. Wang, refers to this sales center as a “Boating Supermarket”; price
check on an Azimut.
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| Source: sail-world.com |
Sources: TradeOnly Today, Businessweek, and sail-world.com
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