Yacht industrial chain HQ lands in Qianhai

Shenzhen’s Qianhai is set to become a domestic leader in the yacht industry, as Sea Expandary — a new venture backed by JD.com founder Richard Liu — establishes its China headquarters in the region.

The Shenzhen Municipal Ocean Development Bureau and the Qianhai Authority signed a strategic cooperation agreement with Sea Expandary in Guangzhou on Feb. 24. The ceremony followed the conclusion of the Guangdong Provincial High-quality Development Conference and was witnessed by Guangdong deputy Party chief, Guangdong governor and Shenzhen Party chief Meng Fanli, and Liu.

The Sea Expandary project, backed by a 5-billion-yuan (US$700 million) personal investment from Liu, is currently the largest yacht industry project in China, spanning the full value chain — from R&D and manufacturing to sales, operations, leasing, brokerage, and after-sales services.

Sea Expandary’s core businesses include yacht design and manufacturing, global sales, yacht club services, and marine scientific expedition services. Photos from Sea Expandary’s official website

Leveraging artificial intelligence and robotics, Sea Expandary aims to develop small-scale, smart, safe, quiet, and comfortable yachts powered entirely by electric propulsion.

The yacht industry, characterized by its long industrial chain, is a significant economic driver with vast potential. By integrating high-end manufacturing, leisure tourism, and premium consumption, it represents a key direction for emerging marine industries.

Unlike previous projects that focused on individual segments of the value chain, this initiative aims to build a comprehensive yacht industry ecosystem. It seeks to establish a strong Chinese yacht brand and inject substantial momentum into the development of a “Maritime New Guangdong” and Shenzhen’s ambition to become a global ocean economy hub.

To support this vision, Shenzhen is accelerating the smart, green, and integrated transformation of its marine industry. In January 2025, the city released the “Shenzhen Yacht Industry Development Plan (2025-2027)” to fast-track sectoral growth. As a gateway for high-level opening-up and a reform innovation pilot zone, Qianhai offers robust institutional support and policy advantages for yacht operations in the Guangdong-Hong Kong-Macao Greater Bay Area, positioning it as an ideal hub for the emerging industry.

The azure sky and the blue waters in Qianhai. Photo from Shenzhen Municipal Ocean Development Bureau

The deal reflects a coordinated push to integrate manufacturing and services, aligning with the “Guangdong Province Action Plan for Promoting High-Quality Development of the Yacht Industry (2024-2027).” It also reinforces Shenzhen’s pursuit of a distinctive, high-end marine economy.

Under the agreement, Sea Expandary’s Qianhai headquarters will focus on R&D and design, sales and operations, supply chain management, and cultural tourism applications, fostering a full-chain ecosystem. The company will tap into Shenzhen’s strengths in lithium batteries, AI, and robotics to upgrade yacht design and manufacturing. The partners will also develop marinas and related infrastructure, create domestic and cross-border yacht tourism routes, and nurture the consumer market.

By attracting international talent, the project will promote bonded maintenance, financial services, and other high-value-added offerings. 

It is expected to drive upstream and downstream industries — including high-end equipment manufacturing, new energy, electronic information, and marine tourism — while pooling global resources to elevate Chinese yacht standards, brands, and services for international markets.