A luxurious cabin on Kunlun, a cruiser rented by a travel agency from the United States to offer services on the Yangtze in 1978. Photos by Yu Chengjian / Xinhua

The superheated competition inevitably resulted in a huge drop in prices. In the 1990s, an all-inclusive five-day luxury tour cost around $1,200, but now the cost has fallen to as little as $300.

Ye Hua, vice-president of Century Cruise, said 99 percent of the luxury liners on the river sail between Chongqing and Yichang in Hubei, because it's the most popular stretch of the river with tourists.

Although prices vary, the itineraries offered by operators are almost identical. "The only differences between the companies are the prices and the facilities," said Mao Yabin, a college lecturer in Chongqing, who took a luxury cruise tour two years ago.

Wang suggested that cruise operators should embrace innovation and provide a wider range of services to meet demand from all age groups.

"The companies can't blame the market - it has huge potential but their products simply don't meet people's needs," he said. "A cruise liner is not just a transportation tool, but also a travel destination. Every vessel should have a character of its own."

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Li Jiayi contributed to this story.