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Article: BRISK RESTAURANT BUSINESS PREDICTED FOR CHINA IN 2003.
- Article from:
- AsiaPulse News
- Article date:
- February 10, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Feb 10 Asia Pulse - China's restaurant business is expected to retain its prosperity and rapid growth pace in the new year with a predicted turnover as high as 580 billion yuan (about US$70 billion).
According to Li Mingde, vice-president of the China Cuisine Association, the restaurant business, which registered a turnover of 509 billion yuan (some US$61 billion) in 2002, has become one of the most thriving industries of the country.
Statistics indicate that ever-growing family consumption now accounts for 80 per cent of the entire business, which tends to climb approximately 20 per cent during holidays when consumers are more willing to ...