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Chinese Lodging And Restaurant Sales Soar In August
September 21, 2007 |
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| Category: Industry News
According to the Ministry of Commerce's Department of Information Technology, for the month of August, the retail sales volume of the accommodation and catering sector rose 19.1% to RMB98.53 billion, with a growth rate 2.3% higher than the same period last year.
For the first 8 months this year, the retail sales volume of the accommodation and catering sector totaled RMB772.2 billion, up 18.1% year-on-year. The accommodation and catering sector accounted for 13.8% of the total consumer goods retail sales, contributing to 2.4% of its growth.
From January to August, there were 574 new foreign-invested enterprises within the accommodation and catering sector, 17.2% lower than the same period last year. In terms of industry norm, the sales volume of above-norm enterprises rose 18.5% to RMB230.3 billion, accounting for 29.8% of the sales volume of the whole industry and with a growth rate 0.4% higher than industry average.
The below-norm enterprises sales volume rose 17.9% to RMB541.8 billion, accounting for 70.2% of the industry total.
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