Restaurants feel the effect of China's frugality campaign
Source: Xinhua |
February 21, 2013, Thursday
|
Print Edition
Print Edition
HIGH-END restaurants and luxury wine brands have reported a drastic decline in sales amid a government frugality campaign in China, according to the Ministry of Commerce.
Expensive restaurants in cities such as Shanghai, Beijing and Ningbo saw revenues fall by up to 35 percent last month, according to a survey cited by spokesman Shen Danyang.
Restaurants also reported selling fewer expensive dishes during the lunar New Year holiday.
Sales of birds' nests and abalone slipped by around 40 percent, while orders of shark fin were down 70 percent, according to the survey.
Sales of food in gift boxes almost halved while premium liquor, such as Moutai and Wuliangye, also saw sales drop.
Expensive restaurants in cities such as Shanghai, Beijing and Ningbo saw revenues fall by up to 35 percent last month, according to a survey cited by spokesman Shen Danyang.
Restaurants also reported selling fewer expensive dishes during the lunar New Year holiday.
Sales of birds' nests and abalone slipped by around 40 percent, while orders of shark fin were down 70 percent, according to the survey.
Sales of food in gift boxes almost halved while premium liquor, such as Moutai and Wuliangye, also saw sales drop.
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