Curbs cut price of fish and tea
By Xu Chi |
March 26, 2013, Tuesday
|
Print Edition
Print Edition
PRICES for two items often served to government officials at receptions have fallen dramatically in Shanghai as a result of the country's curbs on the "three public consumptions."
The endangered coilia ectenes, known as knife fish because of its long and narrow appearance, was a prized Yangtze River delicacy which fetched up to 8,000 yuan (US$1,287) for 500 grams locally last year. Today, that price tag has fallen to as low as 400 yuan.
At the Tongchuan Road seafood market, one of the largest markets in Shanghai, vendors said the volume of knife fish they sold had fallen dramatically, along with the price, due to the central government's curbs.
The "three public consumptions" refers to government spending on overseas trips, receptions, and vehicles.
"It was quite normal that a knife fish, about 100 grams, may cost over 3,000 yuan last year," said a vendor at the market, "But now a fish that size only costs about 600 yuan at most."
Another vendor said he could sell at least 10 kilograms of knife fish a day last year, but that had halved. Last year, most of the customers were restaurants while just 20 percent were local residents. Now more than half his customers are local residents.
"Now that the 'noble fish' is much cheaper, many local residents are choosing to taste it," the vendor said.
High-quality green tea, which used to cost up to 10,000 yuan for 500 grams, is now from 300 yuan to a maximum 3,000 yuan.
Few customers
A vendor working at the Tianshan Tea Market in Changning District said he knew most of the buyers last year were from the government as they would ask for invoices to include the name of the department.
"Now very few customers come and buy the expensive tea leaves," the vendor said.
"I think it's a good thing for consumers as after the prices are cut we can have the chance to taste those delicacies," said a Shanghai resident surnamed Wu.
The country's curbs on public expenditures have also affected business at some restaurants.
According to the Economic Observer, a report published by China Cuisine Association at the beginning of the year showed that 60 percent of restaurants in China found customers cancelling previous bookings. In Beijing, the sales volume at high-end restaurants had decreased by 35 percent.
Xiang'eqing, a well-established Beijing-based restaurant chain, has seen a decline in the number of diners since December, according to the newspaper.
A manager said one of its outlets, which made more than a million yuan on December 26 in 2011, did not had a single booking for the whole of December last year.
China's financial authorities said expenditure on the "three public consumptions" totalled 9.36 billion yuan in 2011 - 1.98 billion yuan for overseas trips, 5.92 billion yuan for vehicle purchases and maintenance and 1.47 billion yuan for receptions.
The endangered coilia ectenes, known as knife fish because of its long and narrow appearance, was a prized Yangtze River delicacy which fetched up to 8,000 yuan (US$1,287) for 500 grams locally last year. Today, that price tag has fallen to as low as 400 yuan.
At the Tongchuan Road seafood market, one of the largest markets in Shanghai, vendors said the volume of knife fish they sold had fallen dramatically, along with the price, due to the central government's curbs.
The "three public consumptions" refers to government spending on overseas trips, receptions, and vehicles.
"It was quite normal that a knife fish, about 100 grams, may cost over 3,000 yuan last year," said a vendor at the market, "But now a fish that size only costs about 600 yuan at most."
Another vendor said he could sell at least 10 kilograms of knife fish a day last year, but that had halved. Last year, most of the customers were restaurants while just 20 percent were local residents. Now more than half his customers are local residents.
"Now that the 'noble fish' is much cheaper, many local residents are choosing to taste it," the vendor said.
High-quality green tea, which used to cost up to 10,000 yuan for 500 grams, is now from 300 yuan to a maximum 3,000 yuan.
Few customers
A vendor working at the Tianshan Tea Market in Changning District said he knew most of the buyers last year were from the government as they would ask for invoices to include the name of the department.
"Now very few customers come and buy the expensive tea leaves," the vendor said.
"I think it's a good thing for consumers as after the prices are cut we can have the chance to taste those delicacies," said a Shanghai resident surnamed Wu.
The country's curbs on public expenditures have also affected business at some restaurants.
According to the Economic Observer, a report published by China Cuisine Association at the beginning of the year showed that 60 percent of restaurants in China found customers cancelling previous bookings. In Beijing, the sales volume at high-end restaurants had decreased by 35 percent.
Xiang'eqing, a well-established Beijing-based restaurant chain, has seen a decline in the number of diners since December, according to the newspaper.
A manager said one of its outlets, which made more than a million yuan on December 26 in 2011, did not had a single booking for the whole of December last year.
China's financial authorities said expenditure on the "three public consumptions" totalled 9.36 billion yuan in 2011 - 1.98 billion yuan for overseas trips, 5.92 billion yuan for vehicle purchases and maintenance and 1.47 billion yuan for receptions.
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