The world’s largest seafood exporter is celebrating its second year of growth in 2017, with the number of restaurants opening across China rising by 30 percent over the past year.
In its first five months of this year, China’s restaurant sector grew by nearly 20 percent, according to the country’s food and beverage ministry.
But the number opened this year has been driven by more than 20 new outlets, with some adding new products and services to the menu.
The growth comes despite the government’s tough measures against counterfeiters and the introduction of a new food safety code, which has sparked concerns about the countrys food safety record.
The number of mainland restaurants grew more than 80 percent last year, outpacing the growth in the rest of the country, according an analysis by Chinese news site NetEase.
The restaurant sector has seen its share of the mainland’s economic growth slide by almost a third, to just over 3 percent of the total.
That contrasts with the rest and the rest is booming.
In 2017, China posted nearly 40 percent of global sales of seafood, according in the U.S., which includes the U-shaped U.K., France, Germany, Italy and Spain.
But the number opening restaurants in China this year was much higher than the rest, said Chen Qijun, a senior economist at Shanghai-based Chinese research group China Merchants Bank.
It has surpassed the U of A and University of Queensland in the number that opened restaurants, and it is on track to surpass the University of Oxford in the numbers that will open.
He said this growth in restaurants and the expansion of seafood outlets could help Chinese firms gain market share in emerging markets, such as the Middle East, Africa and South-East Asia.
The pace of growth has been slower in the past, and in the year to March, the restaurant sector was still smaller than the number in the economy as a whole, at 4.1 percent of GDP.
In 2016, it was more than 5 percent.