男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Industries

Catering industry feeling effects of graft crackdown

By LI WOKE | China Daily | Updated: 2013-04-10 23:32

Greatly affected by the government's crackdown on wasting public money on luxury banquets, growth in China's catering industry has plunged to its slowest rate in a decade, the China Cuisine Association said on Wednesday.

In the first two months of this year, which included the Spring Festival holiday, the sales revenue of the country's catering industry reached 403 billion yuan ($65 billion), a year-on-year growth of 8.4 percent, the slowest growth in the past 10 years, according to the association.

"The slump in the industry, especially for luxury restaurants, has occurred since late last year," said Su Qiucheng, head of the China Cuisine Association.

"Restaurants in some big cities even posted negative sales growth, such as Beijing and cities in Jiangsu and Zhejiang provinces."

At the end of last year, the central government unveiled new anti-graft rules, including banning lavish meals and unnecessary overseas trips, as well as over-the-top welcoming ceremonies.

It has not taken long for the catering industry to feel the impact.

According to the association, nearly 60 percent of restaurants dinner reservations were cancelled during Spring Festival, and most of these were at luxury restaurants or five-star hotels.

"Business has been hit greatly at our restaurant," said Ren Xiuqin, general manager of Laolaofu Seafood Hotpot, one of the top hotpot restaurants in Beijing. "Spending has decreased at least 60 to 70 yuan per head."

Chen Junhai, an executive at Wangshunge Restaurant Group, said about 30 percent of its income comes from business customers, hosting luxury banquets to entertain VIP guests. So the move to eradicate publicly funded extravagance had been a big blow for them.

Some leading high-end catering businesses face being plunged into the red as a result.

Beijing Xiangeqing Co Ltd said that its first quarter financial loss may reach 55 million to 70 million yuan, compared with a net profit of 46.23 million yuan during the same period last year.

ShunFung and Jingya restaurants, another two extravagant eateries, withdrew their IPO applications due to the harsh situation, according to the China Securities Journal on Wednesday.

But Bian Jiang, assistant director of China Cuisine Association, said the habit of pleasing business clients with extravagant banquets is deeply rooted in Chinese culture and will not be reversed overnight.

Duan Kaiyun, assistant secretary-general of Beijing Cuisine Association, said: "The difficult period will last for a long time, as it's a key part of the new government's vow to curb corruption."

As a result, luxury restaurants will be forced to enter a new phase of business adjustment, such as lowering prices and introducing more promotions, Duan added.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 图们市| 贞丰县| 常州市| 大港区| 达拉特旗| 南乐县| 滦南县| 衡山县| 磴口县| 兴仁县| 阳山县| 深泽县| 公主岭市| 新郑市| 湄潭县| 科技| 胶南市| 仲巴县| 延庆县| 吉木萨尔县| 沙坪坝区| 双柏县| 凤冈县| 莱芜市| 安岳县| 高雄市| 文安县| 大新县| 苍梧县| 平利县| 西和县| 安宁市| 永善县| 永仁县| 辽宁省| 九台市| 沁水县| 常德市| 金坛市| 临猗县| 张掖市|