China’s catering sector revenues rise to 2.1 trln yuan

China’s catering industry saw revenues rise 13.4 percent year on year to hit 2.1 trillion yuan (333.99 billion U.S. dollars) between January and November, according to latest data.

The growth rate continued an upward trend that has taken shape since August, Su Qiucheng, head of the China Cuisine Association, said at a catering business meeting.

The sector’s business climate index and entrepreneur confidence index have increased significantly in the third quarter compared to the second quarter, indicating stabilizing growth, according to Su.

The sector posted its slowest growth since the 2003 SARS outbreak during the first half of 2012 due to the economic slowdown, according to a report released by the association in August.

Annual revenue growth in the first half was 3 percentage points lower than the same period last year, said the report. However, it did not give any specific figures.

Xinhua