China's accommodation and catering retail sales are expected to
reach 1.227 trillion yuan (164 billion US dollars) in 2007, up 18.6
percent on last year, according to statistics released by the
Ministry of Commerce on Monday.
The first three quarters saw rapid growth of these sectors,
which would maintain the momentum for the rest of the year as the
four-month national overhaul would no doubt improve food safety and
quality of service, said the ministry.
The campaign, launched in August, targeted farm produce,
processed food, the catering sector, drugs, pork, imported and
exported goods and products closely linked to human safety and
health.
Over the first three quarters, sales were up 18.2 percent on
last year to 886 billion yuan, accounting for 13.9 percent of the
total consumer goods retail sales.
In September alone, sales reached 11.38 billion yuan, up 19.1
percent.
During the nine-month period, foreign investors set up 683 new
accommodation and catering enterprises, down 15.1 percent while the
contractual foreign funds increased by 13.6 percent to 2.42 billion
US dollars, of which 600 million dollars was utilized, up 8.6
percent.
(Xinhua News Agency October 30, 2007)
