英闻天下——328 High-end Catering Business Affected by Policy Promoting Frugality

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　　Liu Wei, a manager of a high-end restaurant in Beijing, says his business was affected¹.

 

　　"The number of business banquets booked by companies and organizations fell the most. Bookings for about 600 tables were cancelled. This caused a revenue loss of about 3 million yuan."

 

　　Most high-end restaurants experienced a similar situation. Luxury foods like shark's fin² soup and sea cucumbers, as well as expensive wines, are no longer popular orders.

 

　　This resulted in the cancellation³ of minimum consumption fees for the VIP room service by many of the high-end restaurants.

 

　　To deal with the big change in customer flow, Liu Wei says his restaurant is considering removing its VIP dining rooms and setting up more tables for individual diners.

 

　　"We will focus our business on individual customer sales, not like in the past when we were more interested in business banquets and even hoped to attract sales from government expenses."

 

　　But some high-end restaurants believe the current high-end customer loss is temporary. Some say it may take six months to a year to regain⁴ the lucrative⁵ business.

 

　　Shi Wei, a manager of a consulting company that provides service for the high-end catering⁶ business, says the current policy may result in a reshuffling of China's high-end catering market.

 

　　"Some purely⁷ high-end restaurants can serve people who enjoy more privacy and customized service. These restaurants may become more private."

 

　　But Bian Jiang, assistant director of the China Dining Industry Association, doesn't agree.

 

　　"I don't think the catering industry's business will change a lot. Because of China's economic development, the problem of the over-consumption of luxury meals like business meals can't be solved in a short period of time. The market demand for high-end products is huge. It's a tradition."

 

　　According to figures from the Ministry⁸ of Commerce, the revenue of high-end restaurants in Beijing dropped by 35 percent during the Spring Festival holiday. In Shanghai and Ningbo, the figures were down by 20 percent and 30 percent, respectively.

 

　　Sales of bird's nest, an expensive delicacy⁹ in China, dropped by about 40 percent, while sales of shark's fin soup, which the government has banned from official banquets, fell by more than 70 percent. Sales of high-end food packages in luxury hotels also dropped by 45 percent.

 

　　For CRI, I am Li Dong.

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