The 2010 Xiamen Boat Show saw a 35 per cent rise in yacht sales from 2009 to RMB130 million ($19 million) as more clients recognise value in the boat industry.

Mid-range yachts were sold mostly to clients from the US and Europe, while low and high-end yachts were snapped up by mostly Chinese consumers.

"Experts say the prospect of having a 'floating palace' has more than offset the multimillion-dollar price tags, the 40 per cent import tax and running costs equivalent to several cars. As one prospective buyer put it: you've got to have some expenses in life," China Elite Focus, a marketing agency targeting affluent Chinese outbound tourists, said in a statement.

Beijing's boating industry has seen a lot of interest internationally after the government specified "leisure boating" as a direction for tourism development. Several cities are reportedly vying to become China's Riviera, including Tianjin, Qingdao and Dalian in the north, Shenzhen, Sanya and Xiamen in the south, and Shanghai and Hangzhou in the east. China Elite said that the number of marinas will likely double to 60 by 2014, as regulators move to cut the red tape related to boat operation.

To date, Sunbird is the only listed yacht maker in China. International brands, like Azimut, Princess, and Sunseeker, are reportedly looking to open branches in the country in the hopes of tapping the mainland market.