| Spokesman of MOFCOM Chong Quan Said, Catering Market in China was Soaring and Annual Sales Expected to be RMB730 Billion |
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| 2004-11-27 14:49 |
Spokesman of MOFCOM Chong Quan Said that according to data released by National Bureau of Statistics of China, retail sales in catering in Oct. amounted to RMB72.6 billion, up by 18.5% compared with the same period of last year, 0.9 percentage point higher than same time last year and 15.8% higher than that in Sep., accounting for 14.6% of total retail sales of consumer goods in Oct. The growth rate in retail sales of catering was 4.3% higher than that in total retail sales of consumer goods.
He said, in January through Oct., total retail sales in catering industry were RMB596.7 billion, increasing by 22.3% and 11.9 over same time last year, 9.2% more than total retail sales of consumer goods, accounting for 13.7% of total retail sales of consumer goods, driving up 2.38% growth of total retail sales of consumer goods and attributing 21.6% increase to total retail sales of consumer goods.
Meanwhile, Chong Quan expressed that in the first 10 months, catering experienced a carry-over fast growth, which indicated a continuous rise in consumption demand, a sustained enhancement of confidence in market and a better momentum of prosperous market in catering. With the advent of peak season at catering market, a growth would be maintained in the coming 2 months. The target of RMB720 billion predicted in the midyear would be realized and was expected to reach RMB730 billion.
(Information by Network Center of MOFCOM)
(News source: English Website of Ministery of Commerce)
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