China’s catering sales booming

May 29th, 2012 - 2:17 pm ICT by IANS  

Beijing, May 29 (IANS) The annual sales of China’s catering industry is expected to reach 3.7 trillion yuan ($587 billion) by 2015.

Chinese Vice Minister of Commerce Jiang Zengwei said this at the first Beijing International Fair for Trade in Service Monday, the China Daily reported Tuesday.

“The sales of the country’s catering industry have seen double-digit growth in recent years, and many international catering enterprises have played an important role in the sector,” Jiang said.

Catering industry sales would account for over a 10th of the country’s consumer retail sales in 2015, he said, adding that China’s catering businesses should absorb advanced management and operating models.

Also Monday, Commerce Minister Chen Deming said China was expected to become the world’s largest consumer market in 2015, when its consumer retail sales are expected to surpass $5 trillion.

The Beijing Fair, akin to China’s major commodities fair the Canton Fair, attracted more than 22,000 service providers from 82 countries and regions to foster trade in the sector.

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