Heading south to Guangdong, major investment! Liu Qiangdong officially announced: hoping to have a yacht worth 100,000 yuan, making it affordable for the working class

On February 24, the reporter from Daily Economic News learned today (February 24) that Liu Qiangdong, the founder and chairman of JD Group, announced the establishment of an independent yacht brand, Sea Expandary. He plans to invest 5 billion yuan in Guangdong and aims to layout the yacht industry across the entire industrial chain, including research and development, manufacturing, sales, operations, leasing, brokerage, and services. Liu Qiangdong stated that this investment is a personal investment, and he will not directly participate in the operational management. At the same time, he expressed hope that in the future, yachts priced at 100,000 yuan will emerge, making them affordable for ordinary wage earners.

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

Public information shows that the current mainstream mid-range small yachts are typically priced around 500,000 to 1,000,000 yuan. The specific price is determined by various factors, including the yacht's size, power system, and interior configuration.

According to a report by China National Radio on October 24, 2025, China has built a globally leading shipbuilding industrial system, laying a solid foundation for the development of the yacht economy. Data shows that in 2024, China's shipbuilding industry has ranked first in the world for 15 consecutive years in three core indicators: completed volume, new orders, and hand-held orders, with global market shares reaching 55.7%, 74.1%, and 63.1%, respectively, forming an overwhelming advantage in the fields of tankers, cargo ships, and container ships, and achieving technological iteration from bulk carriers to high value-added vessels such as LNG ships.

"The technological content and added value of yachts are higher, and their development will drive the coordinated development of multiple high-end industries such as composite materials, precision instruments, navigation communication, and interior design," pointed out Shen Jian Guang, chief economist of JD Group, noting that yacht manufacturing will become a development direction for new productive forces.

Moreover, the yacht economy has become an important lever for expanding service consumption. "Yachts not only represent high-end equipment manufacturing but are also key nodes in driving the service industry chains of tourism, education, finance, and training," Shen Jian Guang stated.

It is reported that the development space for yacht consumption in China is very large. China's service retail growth rate rapidly fell from 20% year-on-year in 2023 to around 5.1% in August 2025, indicating a need to quickly find new levers to unleash service consumption potential. According to data from the Cruise and Yacht Branch of the Transportation Association, in 2024, the number of yachts in China is around 45,000 (including unregistered fishing boats and sailboats), with nearly 15,000 yacht berths, far lower than the 11.67 million in the United States, indicating significant potential in the future yacht consumption market.

Currently, the "Smart Yacht No. 1" independently developed by China Shipbuilding Group has become an industry benchmark. This yacht has achieved integrated intelligent navigation, security monitoring, and equipment operation and maintenance. According to data disclosed at the Asia Yacht Show, by 2025, the penetration rate of new energy yachts will exceed 20% Demonstrating the technological confidence of a "shipbuilding powerhouse" advancing towards a "strong yacht industry nation."

Image source: China Shipbuilding Group website

In recent years, China's yacht economic policy has formed a closed loop from "top-level design" to "local implementation," clearing obstacles for industrial 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," clearly stating for the first time at the national level the direction of "promoting the popularization of yacht consumption," setting the tone for industrial development.

At the local level, continuous innovation and deepening efforts are underway. In November 2024, the General Office of the People's Government of Guangdong Province issued the "Action Plan for Promoting High-Quality Development of the Yacht Industry (2024-2027)," categorizing yacht activities into four types: leisure sightseeing, competitive sports, etc., establishing a multi-departmental collaborative mechanism, and proposing a target for the yacht and related industries to exceed 100 billion yuan by 2027. Currently, the pilot program for yacht free travel in the Guangdong-Hong Kong-Macao Greater Bay Area has been implemented, with six entry and exit ports such as Nansha in Guangzhou and Shekou in Shenzhen achieving "dual license" management and innovative no-guarantee policies, significantly improving passage efficiency.

Hainan Free Trade Port, relying on policy advantages, has achieved "zero tariff" imports for yachts. In the first half of 2025, Hainan Province's yacht entry and exit reached 132,000 trips, receiving 971,000 tourists, accelerating the creation of a national yacht consumption center. In June 2025, Tianjin also proposed to establish a sound yacht management system by the end of 2026, creating a distinctive brand for maritime leisure tourism.

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