Ferretti

John Gapper

You would think that an American executive who came to China in 2006 and has only made one sale since then might be feeling a little discouraged. But, as I discovered on a visit to the city of Wuhan in Hubei province, Brad Bean is not.

Since Mr Bean is trying to sell luxury yachts to billionaires – 70-to-100-metre vessels that retail for between $50m and $120m each – he thinks he is making good progress. China, after all, is not the obvious place to buy a yacht.