Statistics from China's Ministry of Commerce showed that China's catering and lodging industry realized retail sales of CNY137.66 billion in November 2008, a year-on-year increase of 25.1%, but a decrease of 6.6% compared with that of October 2008.
From January to November of 2008, the retail sales of China's catering and lodging industry were about CNY1.4 trillion, a year-on-year increase of 24.9%. In addition, the sales accounted for 14.2% of the total sales of China's consumer goods in the same period, contributing 3.5 percentage points to the growth of the total consumer goods retail sales.
The accumulated revenue of hotels with annual takings of CNY5 million or above and catering enterprises with takings of CNY2 million or above was CNY384.82 billion, a year-on-year increase of 19.2% and it accounted for 27.7% of the total revenue of all catering and lodging enterprises. Of that total, revenue of catering enterprises with takings of CNY2 million or above was CNY207.13 billion, increasing 25.5% year-on-year while revenue of hotels with annual takings of CNY5 million or above was CNY177.7 billion, increasing 12.6% year-on-year.
From January to November of 2008, 591 foreign capital catering and lodging enterprises were opened, a year-on-year decrease of 31.4% and foreign capital in actual use were USD840 million, a year-on-year decrease of 11.9%.
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