The Hong Kong Special Administrative Region government’s Marine Department signed on Monday two work arrangements with the Guangdong Maritime Safety Administration, taking forward the implementation of cross-boundary individual yacht travel between the two places.

The "Work Arrangement for Facilitating the Entry and Exit of Guangdong-registered Yachts into Hong Kong Waters" and the "Work Arrangement for Entry and Exit of Hong Kong Yachts into Guangdong" were signed as the yacht economy has become one of the key development projects highlighted in Hong Kong’s first five-year plan and the 2026 Policy Address.

 “The work arrangements signed today establish a mechanism that serves as a foundation, and hence mark a significant milestone for cross-boundary individual yacht travel between Hong Kong and Guangdong,” said a spokesman for the HKSAR's Transport and Logistics Bureau. 

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After Hong Kong yacht owners traveling northbound to the nine Chinese mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area were allowed in June to handle cross-border procedures more affordably and conveniently, the spokesman said the southbound travel of yachts will soon be launched, enabling yacht owners from Guangdong to “enjoy the same level of convenience.”

“This policy will help add impetus to cross-boundary leisure consumption and further promote two-way exchanges and visits between Hong Kong and the Chinese mainland,” the spokesman said.

“We are pressing ahead with the final preparatory work, and will announce shortly the implementation details of southbound travel for yachts from Guangdong."

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The MD will continue to maintain close communication with the relevant authorities in Guangdong province to actively promote cross-boundary individual yacht travel and foster a healthy, sustainable and competitive environment for the development of both local and GBA yacht economies.

Wong Sai-fat, director of marine for the HKSAR, said earlier that a mature yacht economy could generate between HK$4.4 billion ($561 million) and HK$22.5 billion in annual economic benefits for Hong Kong.