Retail sales of China’s lodging and catering industry up 14.2%

Apr. 27, 2006 (China Knowledge) - The retail sales of China's lodging and catering industry rose by 14.2% year-on-year to RMB 254.12 billion in the first quarter this year, according to the Ministry of Commerce.

During the first three months of this year, there were 220 new foreign-invested lodging and catering enterprises. Contractual foreign funds came up to US$540 million, up 7% and utilized foreign funds was US$180 million, rising by 75.4%.

The retail sales of the sector came to RMB 94.35 billion in January, RMB 82.57 billion in February and RMB 78.15 billion in March, up 16.1%, 9.8% and 16.8%, respectively.

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