Since 2013, Chinese catering firms have witnessed a contraction in terms of profit cut. From January to November, the revenue in the industry grew only by 9.0% year-on-year to RMB2.2913 trillion.

1. China Chain Catering Industry Report, 2013-2016
by
Research In China
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2. China Chain Catering Industry
Report, 2013-2016
The collection of ‘Food & Beverage’ market research reports has a new addition
of “China Chain Catering Industry Report, 2013-2016”On
chinamarketresearchreports.com . Against unfavorable factors such as
slowdown in growth rates for domestic and overseas economies, in-depth
implementation of a series of regulations like “Eight Requirements” and “Six
Bans” issued by the Central Government, H7N9’s bird flu as well as evergrowing food safety issue, China catering industry encountered grave
pressure, with the revenue in 2012 increasing by 13.6% year-on-year to
RMB2.3448 trillion, touching the bottom in industrial growth rate since 1991.
Likewise, the revenue of chain catering enterprises above designated size
posted RMB128.3 billion, up 14.6% year-on-year.
Since 2013, Chinese catering firms have witnessed a contraction in terms of
profit cut. From January to November, the revenue in the industry grew only by
9.0% year-on-year to RMB2.2913 trillion.
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3. China Chain Catering Industry Report,
2013-2016
Under the influence of opposing extravagance and waste launched by the
central government, a great many of catering enterprises saw great loss since
many officials were no longer allowed to have lavish public banquets, which
contributes in a large part to the drop in revenue of the high-end catering
sector. Furthermore, the net income of major listed industrial players witnessed
a drop in the main. A case in point was Xiangeqing, which posted a year-on-year
drop of 375.4% when it comes to the net income in the first three quarters of
2013.
A series of adverse situations such as ever-growing operation cost, declining
profit and massive change in demand forces industrial players to seek for
breakthroughs by means of transformation. For example, they glue their eye on
family feast, gathering, wedding banquet and other popular markets.
Besides, they present low-priced dishes and drinks to attract consumers.
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