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Restaurant sales soar in August

For the month of August, the retail sales volume of the accommodation and catering sector rose 19.1% to 98.53 billion yuan, 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 77.22 billion yuan, 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.
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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 23.03 billion yuan, 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 54.18 billion yuan, accounting for 70.2% of the industry total.

With regard to pricing, most restaurants responded positively to the food price hike since May this year, and maintained the stability of restaurant market. It is still incumbent on the related authorities to watch the illegal price-raising in various forms by restaurants and suppliers.

Source: Department of Information Technology 
Editor: kitty
Date: 2007-9-19 16:15:00

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