Statistics from China's Ministry of Commerce and State Statistics Bureau shows that in the first quarter of this year, the total retail value of China's hospitality industry reached RMB25.412 billion, an increase of RMB31.6 billion compared with the same period of last year and increased by 14.2%.
In the first three months of the year, the Chinese hospitality industry saw the establishment of 220 new foreign investment enterprises, a decrease of 0.9% compared with the same period of last year. Of these, 53 were new hotels (dropping 5.4%) and 167 were new catering companies (increasing 0.6%).
By month, the retail volume of January, February and March was RMB94.35 billion, RMB82.57 billion and RMB78.15 billion respectively, increasing by 16.1%, 9.8%, and 16.8%.
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