|
BIZCHINA / Light Industry |
Chinese eat out for US$3.9b on hotpot annuallyBy ()
Updated: 2007-06-18 15:54 Hotpot resturants account for approximately 36 percent of the combined turnover of China's 100 major catering enterprises, according to a recent survey conducted jointly by the Ministry of Commerce, China Cuisine Association and China National Commerce Information Center. The survey found that among the 100 major catering enterprises, there are 22 hotpot enterprises which operate 6,682 franchised resturants across China, with an annual turnover of 30 billion yuan (US$3.9 billion). The 100 major catering enterprises realized 83.2 billion yuan (US$10.9 billlon) in combined turnover last year, a growth of 24.4 percent from the previous year. According to the survey, in 2006 the 100 recorded 40.5 billion yuan (US$5.3 billion) in gross assets, running 14,500 resturants and employing one million people. Of the 100, 20 each chalked up more than one billion yuan (US$131.6 million) in business turnover, nine more than the year-earlier level, while 33 each posted an annual turnover growth of 30 percent to 50 percent, 19 enterprises more. In a related development, China's hotel and catering industry registered 486.4 billion yuan (US$64 billion) in retail sales in the first five months of this year, up 17.8 percent year-on-year. The total included 98.4 billion yuan (US$12.9 billion) in retail sales realized in May, up 18.7 percent. Commerce ministry sources predicted the retail sales of the hotel and catering sector will surge to a record 1.22 trilllion yuan (US$160.5 billion) for the whole year. (For more biz stories, please visit Industry Updates)
|
|