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Catering industry to hit 2t yuan this year

By Yu Hongyan (chinadaily.com.cn)
Updated: 2010-01-28 15:05
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China's catering industry grew 16.8 percent year-on-year cooking up 1.8 trillion yuan ($263.66 billion) in retail sales in 2009, and the figure is expected to reach 2 trillion yuan in 2010, the National Business Daily reported today, citing an industry report of the China Cuisine Association.

Monthly retail sales in the industry surpassed 130 billion yuan last year, the report said.

For the first ten months of 2009, investment in China's urban catering industry rose 40.4 percent year-on-year to 188 billion yuan, accounting for 1.2 percent of the country's overall investment.

Related readings:
Catering industry to hit 2t yuan this year China maps out plans for catering sector
Catering industry to hit 2t yuan this year Catering business set to return to normal

Among the restaurant chain operators that are in capital operation, six percent won capital injection or prepared for public floats, with 72 percent in talks with investors, according to the report.

Meanwhile, for the full year of 2009, China's GDP rose 8.7 percent year-on-year to 33.54 trillion yuan ($4.91 trillion), according to the National Bureau of Statistics.
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