China's catering sector picks up after austerity adjustment
Updated: 2015-02-27 09:22
(Xinhua)
|
|||||||||||
Growth of China's catering sector picked up in 2014 after an adjustment prompted by the country's austerity drive.
Revenue of China's catering sector totaled 2.786 trillion yuan (about 445.5 billion U.S. dollars) in 2014, up 9.7 percent from 2013, according to the latest data released by the China Cuisine Association (CCA).
Jiang Junxian, head of the CCA, expects the growth rate of the catering sector to jump to double-digit figures and for total revenue to reach about three trillion yuan in 2015.
China's catering industry, especially high-end dining, has been seeking a transition to survive after sharp drops in profits under the government's anti-corruption and frugality campaigns.
The high-end catering and food industries have been hit hard in the past several years, and growth of the sector slowed down for three years in a row from 2011 to 2013, according to the CCA.
The year of 2014 marked the first in the last four years that the sector's revenue growth picked up.
Catering to the needs of ordinary consumers and adjusting to market changes will be the "new normal" for China's catering industry in the future, said Jiang.
The catering sector also faces other problems such as a lack of large-scale and chain restaurants, according to the CCA.
Related Stories
Classic food Chinese eat on long-distance trains 2015-02-18 07:00
Beijing food in focus for holidays 2015-01-28 16:32
Food with flair 2015-01-16 07:00
Pho the love of food 2015-01-05 07:00
Mouthwatering food you can't eat 2014-12-30 07:28
Today's Top News
Effect of 'new normal' expected to be hot topic
British deputy PM hosts Chinese New Year Reception
Most Chinese forced to return home were living abroad illegally
Why China's youth is getting the needle
Prince William to visit China in March
Euro zone backs Greek aid extension
HK seeks fewer mainland visitors
Shooting kills eight in Czech town
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Festival Special: Apps that make holiday shopping easier |
Listed firms caught in anti-corruption net |
Conca set to return to China |
CES: Spotlight on Chinese gadgets |
Yearender: What happened around the globe in 2014 |
National Memorial Day for Nanjing Massacre victims |