Images shown on CCTV showed rescuers lying on the overturned ship attempting to communicate with potential survivors inside.
The fact that the capsized ship drifted downstream was a good sign for rescuers because it means there was enough air inside to give it buoyancy and could mean there are enough air pockets for survivors to breathe, said Chi-Mo Park, a professor of naval architecture and ocean engineering at South Korea's Ulsan University.
“It all depends how much space there is inside the vessel,” Park said.
Although rescue operations are underway, they are being hampered by strong winds and rain, said CCTV, an official broadcaster.
The official Xinhua news agency quoted the captain and chief engineer as saying the ship sank quickly after being caught in a storm.
The official People's Daily newspaper reported that several people swam to land to raise the alarm soon after the ship capsized. The Hubei Daily, another official publication, said the hull remains visible in the river, in water about 50 feet deep.
CCTV said the four-level ship was carrying 406 Chinese passengers, five travel agency employees and 47 crew members.
The People's Daily reported that most of the tourists were 50 to 80 years old and on a tour organized by a Shanghai group. The accident comes as more and more Chinese people are traveling within their country.
The ship sank in the Damazhou waterway section of the Yangtze, which is the world's third-longest river and sometimes floods during the summer monsoon.
CCTV video footage of the scene showed dozens of rescue personnel in bright orange vests gathered on the banks. Several rescue ships were searching the waters, and divers were deployed.
More than 50 boats and 3,000 people were involved in search efforts. State media also reported that more than 2,100 soldiers and policemen were taking part in the search and rescue operations.
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