BIZCHINA / Top Biz News
Lodging, catering retail sales up
(Xinhua)
Updated: 2006-08-02 11:34
Sales of China's lodging and catering sector reported a 15.3 percent year
on year increase to 492.86 billion yuan (US$61.6 billion) in the first
half of the year, according to the latest data from the Ministry of
Commerce.
The growth rate was 2 percentage points higher than the growth in China's
retail sales of consumer goods, said the ministry's market operation
department.
Statistics also showed that sales from the lodging and catering sector
accounted for 13.5 percent of the country's total retail sales of
consumer goods during the six-month period.
The department predicted that the sector's retails sales will reach
nearly 598 billion yuan in the second half of this year.
The ministry said from January to June, it approved 536 new
foreign-invested lodging and catering enterprises, with the contractual
use of foreign funds totaling 1.43 billion dollars, up 15.6 percent,
while the actual use of foreign funds amounted to 380 million dollars, a
rise of 48.6 percent.
(For more biz stories, please visit Industry Updates)
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