The Hong Kong Government’s Policy Address committed to advancing the integrated development of culture, sports and tourism — including developing the city into a yacht hub in Asia. APSA was among the industry bodies consulted by the Chief Executive’s Policy Unit in shaping this agenda.

The Policy Address stated that the Government would continue to advance the integrated development of culture, sports and tourism, generating fresh economic momentum and raising Hong Kong’s global appeal. It proposed, among other measures, to actively develop a premium arts trading hub, while also developing the yacht economy by enhancing amenities for the yachting industry and capitalising on Hong Kong’s geographical advantages to develop the city into a yacht hub in Asia.

As part of its research work, the CEPU met with a number of industry representatives to listen to their views and suggestions, so as to assist the Government in formulating the final package of measures to fully leverage Hong Kong’s strengths as one of the world’s top three art trading centres and to make good use of its geographical advantages of 1,180 kilometres of shoreline and 263 islands.

Develop the Yacht Economy

The CEPU held a roundtable meeting on the yacht economy, bringing together representatives from industry organisations, sales, construction, management, insurance, engineering, and government departments to discuss opportunities and policy directions for developing Hong Kong’s yacht economy. These engagements sought broad inputs from various sectors to advance related economic development.

Separately, the CEPU met with Mr Christopher Cheng, Chairman of Wing Tai Properties Limited, to exchange insights on yacht club management; discussed harbourfront and yacht economy development with Arup Fellows; and held meetings with representatives from the Hong Kong Boating Industry Association (HKBIA) and the Asia-Pacific Superyacht Association (APSA) to explore industry prospects and strategies.

The CEPU held a roundtable meeting on the yacht economy in March to discuss the opportunities for the development of the yacht economy in Hong Kong and explore related policies. Attendees were from various segments of the yacht economy, including industry organisation representatives, brokers specialising in yacht sales, construction and management services, yacht insurance providers, engineering professionals, and representatives from relevant government departments.

Key Meetings and Engagements

The CEPU’s consultations on culture, sports, tourism and the yacht economy included the following engagements:

• Met with Mr Christopher Cheng, Chairman of Wing Tai Properties Limited, to learn about his experience in operating yacht clubs and discuss opportunities for developing the yacht economy.
• Met with Mr Wilfred Lau, Arup Fellow and Director of Arup, and Mr Peter Chan, Director of Arup, to exchange views on the development of harbourfront economy and yacht economy.
• Met with Mr Lawrence Chow, Chairman, and Mr Chan Kwok-leung, Vice Chairman of the Hong Kong Boating Industry Association, to exchange views on the development of the yacht economy in Hong Kong.
• Met with Ms Suzy Rayment, Executive Director of the Asia-Pacific Superyacht Association (APSA), and Mr Lawrence Chow, Chairman of the Hong Kong Boating Industry Association, to discuss industry prospects.

Extract from pages 23 and 24 of the Chief Executive Policy Unit 2025 Work Report.