NANJING - Three people have been confirmed dead and three others are missing after a yacht capsized in the sea off east China's Jiangsu province on Thursday afternoon, local authorities announced on Friday.

The accident happened around 2:30 pm, when a privately owned yacht carrying 14 people was sailing off Yangkou township, Rudong county, about 100 km to the north of Shanghai.

Rescue teams have been dispatched to the area and the search for survivors is continuing. An investigation into the cause of the accident is underway.

Thursday was a national holiday in China to celebrate the Mid-Autumn Festival, traditionally a time of family reunions and get-togethers with friends.