Home  Contact Us
  Follow Us On:
 
Search:
Advertising Advertising Free Newsletter Free E-Newsletter
NEWS

China's High-End Catering Industry Sees Negative Growth
Published on: 2014-04-18
Share to
User Rating: / 0
PoorBest 

altChina's high-end catering and food industries were hit hard in 2013 amid the country's anti-corruption and austerity campaigns, statistics showed.
 
Revenue of the high-end catering sector reached 818.1 billion CNY (about 131.6 billion USD), down 1.8 percent year on year, marking the first negative growth since China began to collect such data in 1991.
 
Wang Yao, director of the All-China Commercial Information Center, said at a press conference on Wednesday that the growth rate was down 14.7 percentage points last year from 2012.
 
High-end catering businesses are defined by the National Bureau of Statistics as those with annual sales exceeding 2 million CNY.
 
Revenue of dining businesses with annual sales less than 2 million CNY increased by 15 percent last year compared with that in 2012.
 
Meanwhile, sales of luxury liquor and high-end health care products, also declined sharply last year, Wang said.
 
Since Xi Jinping took the helm of the CPC in November 2012, the Party has announced a series of detailed regulations to uproot bureaucratic and extravagant work styles among government workers, such as requiring officials to travel with smaller entourages, simplifying receptions and practising frugality. 
Comments (0)Add Comment

Write comment

security code
Write the displayed characters


busy
    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2024 BusinessTianjin.com. All rights reserved.