Hotpot dominates catering sector
Hotpot restaurants accounted for 36% of the total turnover of China’s 100 top caterers, the Economy Daily reported, citing findings from a Ministry of Commerce survey. The survey found 22 of China's top 100 major caterers were hotpot restaurants - called huoguo in Mandarin - which together operated almost 6,700 franchised stores across China. Their combined annual turnover added up to US$4 billion (RMB30 billion). The 100 caterers totally reported RMB84 billion turnover in 2006, up 24.6% from 2005. Retail sales in China’s hotel and catering sector grew 17.7% to RMB486 billion in the first five months in 2007. The Ministry of Commerce predicted total sales for the year will reach RMB1.22 trillion.
@2011 China Economy @ The China Perspective.
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