Chinese,Italian JV to tap 50 bln-yuan yacht market Chinese heavenly divas. gripping ingenues.

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Beijing (CNS) -- Weichai Power, a wholly-owned subsidiary of Shandong Heavy Industry Group, has finished restructuring Italian luxury yacht-builder Ferretti, which will concentrate on China's yacht market, CNS learned Tuesday at the China Strategy Introduction Conference of Ferretti Group in Beijing.

Experts estimate that with the expansion of China's high-income group, its yacht market will reach 50 billion yuan (7.89 billion US dollars) by 2020.

The Italian yacht-maker is considering plans for a facility in Qingdao, Shandong province.