Richard Liu, founder of China’s retail giant JD.com, has launched a nautical brand to build out the country’s yacht industry, riding a wave of policy support to tap a fast-growing domestic market and make the vessels – traditionally associated with affluence and luxury – accessible to “everyday consumers”. Liu’s brand, Sea Expandary, signed a strategic framework agreement on Tuesday with the coastal city of Zhuhai in Guangdong, China’s southern powerhouse province, for a high-end yacht...