China's retail sales in the hotel and catering sector hit 205.91
billion yuan (27 billion U.S. dollars) in January-February period of 2007, a year-on-year increase of 17 percent.
Figures published
on Friday by the Ministry of Commerce showed that retail sales from the hotel
and catering sector accounted for 14.2 percent of the country's total retail
sales of consumer goods during the said period.
Statistics also showed
the number of newly approved foreign-funded hotels and catering projects drop 22
percent year-on-year to 103, with contracted foreign investments totaling 220
million dollars, down 45.7 percent.
Actualized foreign investment
increased 5.8 percent to 140 million dollars, said the
ministry.
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