China’s catering sales boomingMay 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.
- E-commerce to make even bigger gains - Mar 28, 2012
- China's foreign trade to top $2.9 trillion in 2010 - Dec 17, 2010
- 58 percent rise in China's alcohol imports - Aug 10, 2012
- China blames US for trade imbalance - May 03, 2012
- China may see 10 percent foreign trade growth - Jun 11, 2012
- China expects world's 'return gesture' for opening up - Nov 29, 2011
- China's foreign trade to top $4.8 trillion in 2015 - Jan 04, 2012
- China's retail sales up in December - Jan 17, 2012
- $189 mn of China's imports MoUs between Indian and Chinese firms - Aug 27, 2012
- India-China agree to have 5-year economic cooperation plan - Aug 27, 2012
- India-China meet on trade and market access - Aug 26, 2012
- 15 percent of world trade should be Chinese: Minister - May 08, 2012
- Manmohan seeks more Chinese market for Indian goods - Apr 13, 2011
- China's IT industry sees revenue growth - Apr 09, 2012
- UAE, China to enhance trade, tourism, investment ties - Oct 23, 2011
Tags: beijing international, canton fair, catering industry, catering sales, china daily, chinese vice, commerce minister, commodities, deming, double digit growth, minister of commerce, models, retail sales, service providers, trillion, vice minister, yuan