China is entering the booming cruise liner market, with plans to build five of its own luxury cruise ships.

Caixin reports one of China’s biggest shipbuilders has agreed to a joint-venture with a top Italian shipyard to build China’s first-ever luxury cruise liner. China State Shipbuilding Corp (CSSC) signed the deal with Fincantieri SpA on Monday. Under the deal, the ships will be made in Hong Kong by CSSC-subsidiary, Shanghai Waigaoqiao Shipbuilding Co. Ltd (SWS). CSSC will control a 60 percent stake in the joint-venture.

Last October, during Chinese President Xi Jinping’s state visit to the UK, CSSC announced plans to partner with the China Investment Corporation to create a China-controlled joint venture with Carnival UK, the world’s-largest cruise line. The joint venture would build five luxury cruise liners costing five billion yuan, each capable of holding five thousand passengers.

SWS said the ships, designed with Chinese elements, will begin construction in 2017. The first ship is expected to be completed by 2021.

China’s booming cruise liner industry saw 1.1 million passengers last year, an increase of 50 percent from the year before. And according to the 2015 China Cruise Industry Development Report, Chinese cruise line passengers surpassed one million for the first time last year.

The Shanghai International Cruise Economic Research Center anticipates the numbers will only continue to climb, projecting upwards of 4.5 million Chinese cruise travelers by 2020. By that time, Carnival expects the Chinese market will grow to be half the size of the US market.