Shanghai tops other cities in a dining consumption index, while Guangdong, Shandong and Jiangsu provinces top the rankings in terms of absolute transaction value, according to data compiled by Alibaba’s lifestyle service unit, Koubei. Those in Xiamen, Guangzhou and Tianjin prefer Western food more than consumers in other regions, while Shanghai residents favor Cantonese and Sichuan cuisine, the study released yesterday showed…Full Article: ECNS.cn June 2017
- In 2016, according to China’s National Bureau of Statistics, the country’s dining and catering industry was worth CNY 3.5 trillion (USD 512 million).
- As of January 2017, Chinese cities with the most La Liste restaurant rankings included Beijing (25 restaurants ranked), Hong Kong (19 restaurants ranked), Shanghai (also 19 ranked), Macao (7), and Guangzhou (5). The top ranked Chinese restaurants included the fifth ranked Beijing Oi Suen restaurant (Beijing Hong Kong Jockey Club Clubhouse) and the 34th ranked Huai Yang Fu Beijing Andingmen (Huaiyang cuisine).
- In June 2016, the CCA asked the Chinese government to reduce taxes for the restaurant industry due to a profit decline.
- From 2014 to 2015, according to the CCA, China’s catering industry market grew by 11.7%. Over the same time period, out of 100 catering companies surveyed by the CAA, 50% recorded increasing costs for rent. Additionally, 38 of the surveyed companies recorded a profit decline, 36 recorded a profit increase of at least 10%, while seven companies reported stable profits.
- From 2011 to 2015, the restaurant industry in China saw its revenue increase from approximately CNY 2 trillion (US$300 million) to CNY 3 trillion (US$456 million).
- Founded in 1987 and headquartered in Beijing, the China Cuisine Association (CCA) is a state-owned restaurant association. In 1988, the CAA became the 40th member of the World Association of Chefs’ Societies.
Hong Kong Trends