China Water and Boat Facts
China has over 90,000 lakes, 6,500 islands, and about 20,000 kilometers of waterfront coastline. source: Chinese National Statistics Bureau
With a GDP of USD $1.3 billion, China can expect to have a boat demand reaching 550,000 units with the following breakdown:
- 78,000 in Guangdong
- 73,000 in Jiangsu
- 37,000 in Shanghai
There are 56 marinas planned or currently under construction in China. China had approximately 150 boat yards in China in 2006. More than 50 of these are export boat production capable.
China is currently the third largest market in the world for big ticket items. Annual sales are roughly 10% of global market share worth approximately USD $2 billion. The target market for big ticket items includes about 160 million Chinese people, about 13 million of which are active shoppers frequently seeking big ticket items. By 2015, this market will reach $11.5 billion USD taking a global market share of 29%.
source: Ernst & Young
The standard Chinese labor rate is $0.70 per hour, which is about 1/16th that of the American labor rate. China has 1 million rural citizens who could be moved to cities every year to keep the general labor cost at a fraction of the U.S. labor cost.
source: Chinese Department of Labor
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