China's Catering Business Starts to Rebound Gradually

　　Starting from last year, high-end restaurants across China began experiencing a significant drop in profits. According to statistics, the downturn of China's dining industry is gradually reversing; however, the era of extravagant¹ profits will not be returning. Li Dong has the details.

 

　　A report from the China Cuisine² Association or CCA shows that in the first half of 2013, the profit decline rate of dining enterprises with revenues over 2 million yuan dropped from 4.9 to 3.7 percent, indicating that the trend has been stalled.

 

　　Feng Enyuan is the vice³ chairman of CCA.

 

　　"One of the reasons is that enterprises with more than 2 million yuan in revenue have a clear view of the future development of the dining industry. They are aware that serving ordinary consumers is the way to realize sustainable development. Another reason is the recent adjustments that have been made to the operational structures of many high-end restaurants."

 

　　The CCA report shows that during the second quarter of 2013, average individual consumption dropped 15 to 20 percent, forcing prices to drop.

 

　　Yang Xiulong is the manager of a restaurant in Beijing.

 

　　"We have dishes priced from 10 to 20 to 30 yuan. Even if people just come here to have a bowl of noodles, we welcome them. We wouldn't charge them a lot just because our restaurant is well-renovated."

 

　　Yang Xiulong thinks the days of fat profits in the restaurant business are gone.

 

　　"I think most high-end restaurants are facing the same situation. You must accept the changes in the market. Customers won't eat in your restaurant if the prices are too high, so I've had to cut the prices."

 

　　Less expensive meals means good news for diners; it's also triggering a wave of change in the industry. High-end restaurants have slowed down their expansion, and some have even shut down branches. Feng Enyuan says:

 

　　"Strategic shifts are a common pattern for these firms. On the one hand, famous brands are choosing to cooperate with each other; on the other hand, companies are trying to diversify⁴ their operations."

 

　　Group dining, fast food and delivery services are all options on the table for China's restaurant firms. Some high-end restaurants, such as duck chain Quanjude group and Xiang'eqing company, have already invested in fast food franchises⁵, to fatten⁶ their profits and minimize the risk of loss.

 

　　For CRI, I am Li Dong.

1 extravagant   

adj.奢侈的；过分的；(言行等)放肆的

参考例句：

• They tried to please him with fulsome compliments and extravagant gifts.他们想用溢美之词和奢华的礼品来取悦他。
• He is extravagant in behaviour.他行为放肆。

2 cuisine   

n.烹调，烹饪法

参考例句：

• This book is the definitive guide to world cuisine.这本书是世界美食的权威指南。
• This restaurant is renowned for its cuisine.这家餐馆以其精美的饭菜而闻名。

3 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

4 diversify   

v.（使）不同，（使）变得多样化

参考例句：

• Our company is trying to diversify.我们公司正力图往多样化方面发展。
• Hills and woods diversify the landscape.山陵和树木点缀景色。

5 franchises   

n.（尤指选举议员的）选举权( franchise的名词复数 )；参政权；获特许权的商业机构（或服务）；（公司授予的）特许经销权v.给…以特许权，出售特许权( franchise的第三人称单数 )

参考例句：

• TV franchises will be auctioned to the highest bidder. 电视特许经营权将拍卖给出价最高的投标人。 来自《简明英汉词典》
• Ford dealerships operated as independent franchises. 福特汽车公司的代销商都是独立的联营商。 来自辞典例句

6 fatten   

v.使肥，变肥

参考例句：

• The new feed can fatten the chicken up quickly enough for market.新饲料能使鸡长得更快，以适应市场需求。
• We keep animals in pens to fatten them.我们把动物关在围栏里把它们养肥。