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China's catering industry 'Oscars' celebrate sector's success

Editor: Li Xiang 丨China Plus

05-07-2017 12:45 BJT

China's most successful food and drink companies have been honored in Beijing at an event dubbed as the 'Oscars' of China's catering industry.

This year's China Catering Industry Development Conference also celebrated the 30th anniversary of the China Cuisine Association.

Food and drink are big business in China, with industry revenue reaching a staggering 3579.9 billion yuan (about 519 billion US dollars) in 2016, according to a report unveiled at the prestigious event.

Jiang Junxian, president of the China Cuisine Association (CCA), speaks at the 11th China Catering Industry Development Conference in Beijing, May 6, 2017. [Photo: China Cuisine Association]

Jiang Junxian, president of the China Cuisine Association (CCA), speaks at the 11th China Catering Industry Development Conference in Beijing, May 6, 2017. [Photo: China Cuisine Association]

However, revealing the details of the performance of China's top 100 catering enterprises and top 500 catering stores, Jiang Junxian, the president of the China Cuisine Association (CCA), noted "a steady slowdown" in revenue compared to the year before.

Nevertheless, Jiang said that China's 2016 nationwide food and beverage revenue still reached 3579.9 billion yuan (about 519 billion US dollars), attaining a year-on-year growth of 10.8%.

He said the income created by industrial enterprises above a designated size totaled 921.3 billion yuan (about 133.5 billion US dollars), representing a year-on-year increase of 6 per cent.

Industry pioneers – the top 100 catering enterprises – saw a growth of 7.4% year on year, achieving an overall operating income of 218.17 billion yuan (over 31.6 billion US dollars) last year.

The top 500 catering stores booked an average 8.5% growth year on year.

Recipients of the 2016 China top 100 catering enterprises receive their awards at the 11th China Catering Industry Development Conference in Beijing, May 6, 2017. [Photo: China Cuisine Association]

Recipients of the 2016 China top 100 catering enterprises receive their awards at the 11th China Catering Industry Development Conference in Beijing, May 6, 2017. [Photo: China Cuisine Association]

Awards were made honoring the top 10 catering brands in China in 2016, with 12 kinds of awards in 7 different categories, including dinner, hotpot, fast-food, etc.

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