Meituan's Positive Earnings and Performance Boosts Chinese Food Delivery Market
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China's Lunar New Year holiday saw clear growth in restaurant footfall, according to CICC. The average daily spending of Meituan Life Service during the holiday increased by 36% compared to the previous year. This data indicates a positive trend in consumer behavior during the festive season in China. The increase in restaurant footfall and spending reflects the recovery of the food and beverage industry, which was heavily impacted by the COVID-19 pandemic. This growth in consumer activity is a positive sign for the Chinese economy, which has been facing challenges such as a property market crisis, weak exports, and concerns about falling consumer prices. The rebound in restaurant footfall and spending during the Lunar New Year holiday suggests that consumer demand in China is gradually re...
#newstr #Meituan #ChineseFoodDelivery #Earnings #HongKongMarket #ConsumerSpending