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Hilton, Starbucks to expand investment in Kunming

By : InKunming|Updated: 2011-10-19

Agreements for three projects have been signed Tuesday with a total investment of more than 2 billion yuan during the 21st China Chief Festival and the 1st Dianchi International Food Festival.

Three projects are as following: the Hilton Hotel will be built in Kunming’s Chenggong New Area. Starbucks coffee will inject more capital into its Yunnan branch. Shenzhen Baijiahua Department Stores will enter the retail market in Kunming. In addition, the signing ceremony did not disclose more details.

Deputy Mayor Lixi attended the signing ceremony and delivered a speech. He said that as being a people-oriented industry, catering service is an important foundation for building a liveable city and improving the quality of people's lives. It also is a closely related key linking to the development of modern new Kunming and the city’s comprehensive competitiveness.

By 2015, the average annual growth of catering industry in Kunming will achieve an increase of over 18 percent. The total retail sales of catering industry are expected to reach 35 billion yuan, accounting for more than 15 percent in the total retail sales of social consumer goods of Kunming.

Moreover, a total of 30 leading catering enterprises that registered in Kunming will receive the government support during the 12th Five-Year Plan period (2011-2015), of which there are 15 enterprises that the annual sales revenues have reached 50 million yuan or above, and 5 enterprises that the annual turnover of 100 million yuan or above.

The 21st China Chief Festival and the 1st Dianchi Pan-Aisa International Food Festival kicked off Tuesday morning (October 18) at Kunming International Exhibition Center. (Reporter:Ryan Li, editor:Minnie Mao)