In a reply released on Friday, China's State Council approved a new policy that streamlines the logistics process and exempts yachts registered in the Hong Kong and Macao special administrative regions (SAR) from having to pay customs guarantee deposits when entering designated cities in the Chinese mainland.

The adjustment is expected to enhance greater connectivity, foster deeper industry integration and boost economic development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), which aligns with the Outline Development Plan for the Greater Bay Area published by the Chinese central government in 2019. 

In the past, a Hong Kong-registered yacht had to pay a customs guarantee of up to 40% of its value and go through extensive paperwork to sail to any city on the Chinese mainland.

This is no longer the case under the new policy, which is now in effect.

According to the adjustment, Hong Kong and Macao yachts that temporarily enter and exit the mainland via designated ports in nine cities and navigate only within these cities will be exempt from the requirements for a guarantee and temporary ship nationality registration.

This means easier entry, less paperwork, and lower financial barriers for Hong Kong- and Macao-registered yachts traveling to Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing – nine cities in southern China's Guangdong Province.

Integrated resources push joint development

Pooling resources from yacht assets and berthing resources to travel demand and tourism experience will drive joint development of the region, solving Hong Kong's berth shortage problem and stimulating the overall expansion of the yacht industry, tourism and related consumer spending. 

According to the marine department of Hong Kong SAR and reports from the Hong Kong Commercial Daily, the city has over 12,000 leisure vessels but only 4,300 yacht berths, resulting in a berth shortage.

Guangdong Province, which boasts China's longest coastline and strong development potential, is well positioned to close this gap.

According to an action plan published by Guangdong's local government in 2024, the province aims to build more than 2,500 yacht berths, increase the number of registered yachts to over 4,000, and develop a related industry that is valued at more than 100 billion yuan (about $14.8 billion).

Xu Fengjuan, deputy manager of the Nansha Marina in Guangzhou, said the yacht industries in Guangdong and Hong Kong are highly complementary. Guangdong has ample yacht berths and lower vessel maintenance costs, while Hong Kong offers extensive international experience in yacht tourism management.

'The most significant breakthrough'

Chu Lap Wai, a member of the Legislative Council of Hong Kong SAR, described the policy as "the most significant breakthrough in promoting cross-border yacht travel in years."

The growing popularity of yacht tourism, coupled with advances in industrial technology, is expected to boost the growth of the yacht manufacturing sector and spur the development of new energy yachts, according to Jerry Ye Jialin, vice president of the Guangdong Yacht Tourism Association and deputy executive manager of Shenzhen Bay Marina Club.

Seven years ago, the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area directed local governments to "explore boldly" measures that would deepen mutually beneficial cooperation and promote coordinated regional economic development.

Seven years later, we are witnessing no shortage of such efforts, from the Hong Kong-Zhuhai-Macao Bridge to free yacht travel, which strive toward a more open and connected Greater Bay Area.

The Hong Kong SAR said on Saturday that it welcomes the State Council's new policy.