Gordon Hui, the Asia managing director of UK yacht builder Sunseeker, said Chinese yacht builders are credible competitors, especially for smaller, family boats.

CNN: Made-in-China superyachts reflect changing tide of economy

Sunseeker has increased its design team from 50 to 80 in the past two years, to meet demand from well-heeled customers for the newfangled.

ECONOMIST: Britain��s Mittelstand

Sunseeker's financial backers also see the merit of its extra investment.

ECONOMIST: Britain��s Mittelstand

Swift says that European brands like Azimut and Sunseeker have "made a killing" in China as the country's elite discovers the pleasures of messing about on boats.

CNN: Made-in-China superyachts reflect changing tide of economy

Too few are like Sunseeker, which exports almost all of its boats, a growing share of which are sold to the newly rich in Asia and Latin America.

ECONOMIST: Britain��s Mittelstand

Sunseeker is typical in being central to the local economy.

ECONOMIST: Britain��s Mittelstand