The Qianlong Boat, familiar to many Hangzhou residents, was once the only large floating restaurant vessel on the 34-kilometer Hangzhou section of the ancient canal. It opened to guests in 2005 and was once a favored high-end dining destination for Hangzhou residents.
Since 2019, the Qianlong Boat has been closed and has remained abandoned ever since. In September 2020, the Qianlong Boat was listed for judicial auction for the first time and was ultimately sold for 2.911 million yuan. However, that auction did not revive the vessel's fortunes, and its fate since then has been full of twists and turns.
The Qianlong Boat has now been listed for auction once again, with a starting bid of 3.5 million yuan. The result will be announced on October 29. Two auctions in six years — what has the Qianlong Boat been through? And what is the current state of boat-dining operations in Hangzhou?
Qianlong Boat Listed Again with Starting Bid of 3.5 Million Yuan
A reporter recently visited the vessel on site. Due to multiple changes of ownership, the "Qianlong Boat" signboard is no longer there, and the hull now bears the words "Canal Boat." The steel structure of the hull remains largely intact, but obvious rust and moss can be seen where the hull meets the waterline. The four-story vessel features carved beams, painted rafters, upturned eaves, and glazed golden tiles. Though showing signs of age, it still conveys a sense of former grandeur.
The Qianlong Boat was modeled after the "Baolian Imperial Boat." When it opened in 2005, its selling point was the story of Emperor Qianlong's journey to the south over 200 years ago. Records show that the first-floor reception hall once housed a replica dragon throne worth over 200,000 yuan. Now, however, looking through the glass windows, the interior has long been emptied.
The first owner was Hangzhou Grand Canal Tourism Development Co., Ltd., whose business scope included tea art, Chinese and Western cuisine, bars, coffee, and chess and card games. Due to lackluster business, it stopped self-operation after October 2008.
The Qianlong Boat was once contracted by Shi Guiying, former deputy general manager of Liang'an Coffee. After November 2016, it was leased to Hangzhou Tianwaitian Holdings for operation, with an annual rent of 1.2 million yuan that increased by 3% every three years. However, the contract was terminated in October 2019, and the Qianlong Boat has been closed ever since — for seven years.
In September 2020, the Qianlong Boat was listed on Alibaba's judicial auction platform for the first time, with a starting bid of 1.984 million yuan. After 22 rounds of bidding, it sold for 2.911 million yuan, with the winning bidder being Hangzhou Fengjia Catering Co., Ltd. Compared to the appraised value of 2.48 million yuan, the premium rate was 17.4%, showing it was still relatively sought after at the time.
Shortly after that auction, the new owner did not reopen the Qianlong Boat but chose to resell it. A jaw-dropping price of 38 million yuan once appeared on a real estate agent's social media feed. "It was indeed sold, but not for 38 million yuan — rather 8.8 million yuan. This transaction was carried out through a company equity transfer, and the Qianlong Boat remained under the name of Hangzhou Fengjia Catering Co., Ltd. The price difference wasn't actually too large, because renovation costs after the auction also came to about 2 million yuan," a person familiar with the matter told the reporter.
Tianyancha shows that Hangzhou Fengjia Catering Co., Ltd. had an investor change record on May 23, 2024. The original legal representative and person in charge, a certain Chen, withdrew and was replaced by a certain Hu. Hu is also the current owner of the Qianlong Boat.
According to an enforcement ruling issued by the People's Court of Gongshu District, Hangzhou, Hangzhou Fengjia Catering Co., Ltd. and its legal representative Hu owe 3.35 million yuan due to a private lending dispute. The court ruled to auction the vessel under the company's name — the Qianlong Boat.
No More Restaurant Operations, But Other Commercial Uses Permitted
At the boarding point of the Qianlong Boat stands a greeting pavilion and a monument inscribed with "Awaiting the Imperial Visit." Legend has it that this was where local officials and common people welcomed Emperor Kangxi and Emperor Qianlong during their journeys to the south. Because of this historical connection, many Hangzhou residents once regarded this place as their first choice for banquets.
Xiao Liu, who lives in Xinyifang, recalled: "Thirteen years ago, when I was still in middle school, relatives from out of town came to Hangzhou, and my parents booked a private room at the Qianlong Boat for a family dinner. I remember having Qianlong fish head, which was a signature dish. After dinner, while the elders chatted, I went to the deck to look at the canal night view. It left a deep impression on me."
However, even if the Qianlong Boat finds a buyer this time, it will not be able to operate as a restaurant in the future. "Due to non-compliance with canal environmental protection requirements, the Qianlong Boat cannot operate as a restaurant going forward. This point has been made clear," Huang Xiang, director of the Hushu Subdistrict Office, told the reporter. As for other business formats, such as office use or cultural and creative product sales, there would be no problem.
It is understood that some enterprises have previously shown interest in the Qianlong Boat and have contacted the subdistrict office. It is possible that they may register to bid in this auction.
It is worth noting that ship assets differ from real estate in that they are subject to annual inspections. The auction announcement explicitly warns: "According to past inspection records, the portion of the hull below the waterline may have corroded, causing the hull plates to become too thin, which may result in failure to pass the annual inspection. Please be aware of the risk."
"Ships, like cars, require regular annual inspections. If they pass the annual inspection, there is no mandatory scrapping age limit," Wu Xingxing, deputy director of the Maritime and Ship Inspection Division of the Hangzhou Highway and Port Navigation Management Service Center, told the reporter. "The last annual inspection of the Qianlong Boat was in June 2022, valid until June 2023. No subsequent inspection application was received, meaning it is currently in a state of lapsed inspection. The annual inspection mainly involves technical requirements for safety and anti-pollution equipment. Whether it can pass the inspection after the auction can only be determined after an actual survey by a ship surveyor."
In addition, according to regulations, a ship can only be transferred after passing the annual inspection. If the buyer of the Qianlong Boat cannot meet the inspection requirements, there may be a certain amount of renovation costs.
Ship-Based Commercial Spaces Primarily Offer Scarce Scenic Resources
In Hangzhou, there are quite a few commercial spaces in the form of "ships," most of which possess scarce scenic resources, and their business format is mainly restaurants. These commercial spaces are divided into mobile and immobile types. The Qianlong Boat belongs to the category of immobile dining pontoon vessels. So what is the current state of operations for these special commercial spaces in Hangzhou?
On West Lake, restaurants operating large boat banquets include Dahua Hotel and Xizi Hotpot. For example, Dahua Hotel's boat banquet is priced at 12,000 yuan per table (within 10 people, with an additional charge of 1,200 yuan per person beyond that). The boat fee of 6,000 yuan for 2 hours must be paid separately, meaning a meal for 10 people costs 18,000 yuan. On the canal, there are now cruise restaurants to experience, such as the New Huanglong cruise of Hangzhou Canal Huanglong Cuili Hotel. On Dianping, the cruise restaurant's two-person buffet package has sold over 100 units in half a year, showing good sales. On the Qiantang River, there are even more options for sightseeing and dining cruise ships, such as the Qianyin Qiantang River Night Cruise restaurant operated by the Business Travel Canal Group, the Menghang Qiantang River Night Cruise restaurant, and the Qingxizi Xizilou cruise restaurant, which has become a check-in experience for many tourists visiting Hangzhou.
If the Qianlong Boat welcomes a new owner after this auction and transforms into a business format other than dining, it would represent an entirely new attempt for ship-based commercial spaces in Hangzhou.
Comments