Since China has a ton of people making a ton of money these days, they're just spending it wildly. Like buying £1.5 million yachts that don't work. As the yacht was entering the water for the first time, it started sinking and eventually capsized.
SS Jiugang, the sinking boat's name, was supposed to embark on its maiden voyage in the Yellow River near Lanzhou, China. She never made it. Supposedly, the ship's accident was "due to improper handling from the builders who mistakenly estimated the water level causing the water level to exceed the limit, leading to the rear half of the ship to take on water and sink." Thankfully, no one was injured or killed and only a few suffered from a severe case of buyer's remorse.
Workers somehow got the sinking ship out of the water and are now making the proper repairs so it can cruise the waters instead of chilling at the bottom of the sea. Good idea. [China Smack via The Daily What]