'Second golden age' for China's cruise industry expected

China's cruise industry is expected to witness the 'second golden age' in the next decade, South China Morning Post reported Saturday.

China's cruise industry is projected to be worth 550 billion yuan ($76.8 billion) by 2035, up from $1.3 billion in 2024, the report said.

China aims to grow the cruise industry into one of the most dynamic markets in the world, with annual passenger trips expected to reach 14 million by 2035, according to a joint guideline issued by 10 government agencies, including the Ministry of Transport.

The first so-called golden age for China's cruise industry was from 2013-16, when the industry enjoyed 70 percent growth every year.

Chinese tourists alone make up 4.9 percent of worldwide cruise passengers, with 60 percent of passengers having an annual income of over $94,000, the report said citing data platform Koeeru.

China is making waves in the international cruise industry following the maiden voyage of its first homegrown large cruise liner the Adora Magic City at the start of this year, said the article entitled Is China charting a new course with its 'second golden age' of cruise tourism?.

China has long maintained a dominant position in the global shipbuilding industry and accounts for more than 76 percent of worldwide orders in April, according to British analytics firm Clarksons Research.