On March 25, the Dalian Municipal Government signed a strategic cooperation agreement with Shenzhen Tanhai Yacht Industry Development Co., Ltd. (Tanhai company), officially launching its yacht manufacturing base and operations project in Dalian. The event was attended by Xu Kunlin, Secretary of the CPC Liaoning Provincial Committee; Wang Xinwei, Governor of Liaoning Province; and Liu Qiangdong, investor of Tanhai Yacht Industry Development Co., Ltd.
The yacht industry serves as a key driver for consumption upgrading and expansion, as well as the high-quality development of the marine economy. The Dalian Municipal Government and Tanhai will leverage this signing ceremony to jointly advance technological innovation and scenario development, strengthen industrial support systems, cultivate new consumption models, and promote the deep integration of culture, tourism, sports, and commerce.
It is reported that the total investment for the Tanhai Yacht Manufacturing Base and Yacht Operations Project amounts to 15 billion yuan. The project will establish a customized high-end yacht production line in Dalian, primarily engaged in the R&D, design, and manufacturing of large yachts and components, as well as the operation of a “Yacht City Lounge” and a comprehensive service homeport, thereby creating a yacht service hub. Dalian boasts prominent advantages in the shipbuilding and offshore engineering equipment industries, and its yacht ownership ranks among the highest in the country. TanHai is committed to building a globally leading, green, and smart full-industry ecosystem for yachts.
Corporate records show that Shenzhen Tanhai Yacht Industry Development Co., Ltd. was established on February 9, 2026. It is a wholly-owned subsidiary of Future Expandray, with Zhang Ran as its legal representative and a registered capital of $10.88 million. Its business scope covers ship sales, leasing; R&D, manufacturing, and sales of offshore engineering equipment and recreational/sports boats; as well as licensed operations including vessel design, modification, dismantling, and repair.
As early as February 24, Liu Qiangdong, founder and chairman of the board of JD.com, announced a 5 billion yuan investment in the yacht industry in his personal capacity and launched an independent yacht brand, Sea Expandary. Liu stated that this was a personal investment and that he would not be directly involved in the company’s operations. He expressed his hope to eventually produce yachts priced at around 100,000 yuan, making them affordable for ordinary working-class people.
Sea Expandary positions itself as a world-leading, comprehensive green and intelligent yacht industry ecosystem. Targeting the global market, it aims to build an end-to-end yacht industry chain that integrates R&D, design, manufacturing, global sales, yacht club services, and comprehensive marine scientific research services, providing top-tier products and services to yacht clients worldwide. The brand will focus on new energy and smart yachts, leveraging advanced AI and robotics technologies to create safer, smarter, quieter, more environmentally friendly, and more comfortable yacht products.
Sea Expandary has signed strategic cooperation agreements with local governments in Shenzhen, Zhuhai, and other cities. According to the plan, Zhuhai will build a yacht manufacturing base; Shenzhen will establish the China headquarters for the yacht business and participate in the construction and operation of multiple marinas construction and operation; and the Greater Bay Area will host a series of supporting institutions, including a research and development innovation center, a yacht operations service center, and a bonded maintenance center, to form a comprehensive yacht industry ecosystem.
Currently, China has identified yacht consumption as a new growth area in the service sector to be actively cultivated and developed, driving the yacht industry’s transition toward mass-market consumption and large-scale development. According to data from the Ministry of Transport, the domestic yacht market is entering a period of rapid growth; by the end of 2025, the number of registered yachts in China is projected to reach 9,850.
At the policy level, the state strongly supports the yacht industry’s development. The “Work Plan for Accelerating the Cultivation of New Growth Points in Service Consumption” issued by the State Council General Office, and the “Several Measures for Expanding Yacht Consumption” drafted by the Ministry of Transport, provide robust policy support for the industry’s high-quality development.