...and the accoutrements too I believe.
Posted on 08/21/2010 5:57:30 PM PDT by Cardhu
QINGDAO, Shandong - Dong Yongquan has been under intense pressure ever since the Beijing Olympic Games ended in 2008. As the president of Qingdao International Yacht Club, he is running the 15.5-hectare harbor built for Olympic yachting events - and is supposed to turn a profit.
"The harbor is eating up 50,000 yuan (about $7,350) every day in maintenance costs and if I don't attract enough members, I can lose millions every year," Dong said.
Only about 300 yachts - powerboats and sailboats - are anchored in the 700-berth harbor. "The day I start earning money is when all 700 berths are in use," Dong said.
"To achieve this may take another five years, given the condition of the yacht business in China."
Dong has a problem other maritime clubs in China face: not enough rich people going into leisure yachting, although money is not an issue.
Yachting magazine editor Wu Chenguang said for most of the new rich, "cars and villas are still their first choice and it is difficult to change this mindset overnight".
"If the yachting industry in Europe is generally into Mercedes-Benzes, we are still in the level of Chery QQ," said Wu. Chery QQ refers to a low-cost car made by a Chinese carmaker.
The history of leisure boating in Western countries indicates that when per capita income is about $3,000, the industry starts to develop. When this figure reaches $6,000, it starts to boom.
"With China's per capita income at $3,700, people are just beginning to know boats and yachts," Wu said.
People took to yachting in Europe more than 100 years ago and in Denmark now, there is a boat or yacht for one out of every 15 people. In New Zealand, the ratio is even higher, one in six.
(Excerpt) Read more at chinadaily.com.cn ...
Hou dubbed these yachts "son of dragon" and sells them in a range between 6.8 million yuan and 10 million yuan ($1 million to $1.47 million) - equivalent to a mid-level yacht imported from Europe."
My Heart Bleeds.
You have to know the problems of the other countries - LOL
Well, China needs to sell MORE Poison Drywall to Florida Developers, More Poison Baby Milk, More toothpaste with mercury in to Americans, and More Tainted Puppy Chow To Americans so they can afford more Yachts!
There! that will solve the problem. LOL!
See? I am a VERY sensitive soul.
I am sure they will do their best. :)
“Taxes levied on imported yachts - 43.6 percent - also deter many people.”
Look at this horse sh*t! How do they justify this tax?
Sure wish I had a yacht. :-)
...and the accoutrements too I believe.
Hee Hee. Nice shoes.
Right now, I am scraping together my next mortgage payment!
It goes to Some Bank in China, I believe.
Hsbc..Hong Kong.
Coil that shore power line.
Ha, I noticed that also, along with the dock lines.
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