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 DEVELOPMENT OF CHINA'S INDUSTRY |
| In 2006, China's catering industry maintained fast, steady and healthy development and made historic record with annual retail sales exceeding one trillion yuan, up to 1.03455 trillion. It increased by 16.4% over the previous year, a net increase of 145.8 billion yuan. It was 2.7 percentage points higher than the growth rate of the total social consumable retail sales over the same period and 5.7 percentage points higher than that of GDP. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics released by Ministry of Commerce, in 2006 there were 775 projects using foreign investment in catering industry, down 13.31% under the same period of the previous year. The actually used foreign capital amount was 300 million USD, up 5.91% over the previous year. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| China's Commitments on Hotels (including apartment Buildings) and Restaurants |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| The report Forecast of 2007 American Catering Industry says, restaurants have played important roles in American life. Next year expenditure of dinning in restaurants will account for 47.9% of how much an American family spends on food. It thinks that the industry will keep acting as an engine driving U.S. economy roar. In 2007, 935,000 restaurants in the U.S. will employ up to 12.80 million people. |
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