In the first two months of this year, which included the Spring Festival holiday, the sales revenue of the country's catering industry reached 403 billion yuan ($65 billion), a year-on-year growth of 8.4 percent, the slowest growth in the past 10 years, according to the association.
'The slump in the industry, especially for luxury restaurants, has occurred since late last year,' said Su Qiucheng, head of the China Cuisine Association.
'Restaurants in some big cities even posted negative sales growth, such as
At the end of last year, the central government unveiled new anti-graft rules, including banning lavish meals and unnecessary overseas trips, as well as over-the-top welcoming ceremonies. It has not taken long for the catering industry to feel the impact.
According to the association, nearly 60 percent of restaurants dinner reservations were cancelled during Spring Festival, and most of these were at luxury restaurants or five-star hotels.
'Business has been hit greatly at our restaurant,' said Ren Xiuqin, general manager of Laolaofu Seafood Hotpot, one of the top hotpot restaurants in
Chen Junhai, an executive at Wangshunge Restaurant Group, said about 30 percent of its income comes from business customers, hosting luxury banquets to entertain VIP guests. So the move to eradicate publicly funded extravagance had been a big blow for them.
Some leading high-end catering businesses face being plunged into the red as a result.
Beijing Xiangeqing Co Ltd said that its first quarter financial loss may reach 55 million to 70 million yuan, compared with a net profit of 46.23 million yuan during the same period last year.
ShunFung and Jingya restaurants, another two extravagant eateries, withdrew their IPO applications due to the harsh situation, according to the China Securities Journal on April 10.
But Bian Jiang, assistant director of China Cuisine Association, said the habit of pleasing business clients with extravagant banquets is deeply rooted in Chinese culture and will not be reversed overnight.
Duan Kaiyun, assistant secretary-general of Beijing Cuisine Association, said: 'The difficult period will last for a long time, as it's a key part of the new government's vow to curb corruption.'
As a result, luxury restaurants will be forced to enter a new phase of business adjustment, such as lowering prices and introducing more promotions, Duan added.
(seafood.vasep.com.vn) Alongside the development of high-tech shrimp farming, Ha Tinh Province is accelerating the cultivation of high-value freshwater aquatic species, with red tilapia emerging as an effective and sustainable farming model.
(vasep.com.vn) Vietnam’s tuna exports reached USD 81 million in April 2026, down 6% compared to the same period in 2025. In the first four months of the year, export turnover totaled USD 289 million, down 4.8%. Although the overall export picture has yet to brighten significantly, market trends are becoming increasingly diversified rather than moving in a single direction.
(seafood.vasep.com.vn) Vietnam’s pangasius industry is undergoing strong restructuring starting from the broodstock and fingerling segment in order to improve productivity, quality, and export competitiveness. This is considered a critical foundation for the sustainable development of the industry amid rising production costs and increasingly stringent market requirements.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports in April 2026 reached USD 206 million, up 18% compared to the same period in 2025 — marking another consecutive month of double-digit growth since the beginning of the year. Cumulative pangasius export turnover in the first four months of 2026 reached USD 720 million, up 17% year-on-year, reflecting the positive growth momentum of this key export product.
(seafood.vasep.com.vn) Vietnam’s shrimp exports in the first four months of 2026 maintained positive growth momentum, reaching approximately USD 1.5 billion, up 15% compared to the same period last year. However, behind this result lies diverging trends across markets, as the global shrimp industry continues to face pressure from inflation, high inventories, price competition, and increasing trade risks.
(seafood.vasep.com.vn) In Vinh Tuy commune (Kien Giang Province), many shrimp farmers are adopting bottom aeration systems and reporting clear economic benefits, helping increase income and reduce production risks.
(vasep.com.vn) In the first three months of 2026, Vietnam’s exports of crabs and other crustaceans reached more than USD 93 million, up 23% compared to the same period last year. The result shows that the sector is experiencing a fairly positive recovery, especially in its two key product groups: crabs and swimming crabs. However, behind the growth figures are several concerns: export markets remain highly concentrated, raw material supply is unstable, and trade barriers from the US and EU are becoming increasingly stringent.
(seafood.vasep.com.vn) In Ca Mau province, many farmers are transitioning from traditional methods to high-tech shrimp farming, adopting recirculating systems with minimal water exchange to improve efficiency and reduce risks. In Hung My commune alone, there are about 260 super-intensive shrimp farming households covering more than 265 hectares, playing a key role in local economic development.
(seafood.vasep.com.vn) In the first three months of 2026, Vietnam’s exports of fish cake and surimi reached USD 63 million, down 5% compared to the same period last year. Although total export value declined slightly due to decreases in some key markets, many other destinations continued to post strong growth, opening up room for this convenience-oriented processed segment in the coming quarters.
(seafood.vasep.com.vn) Favorable weather conditions in the early months of 2026 have brought encouraging signs for fisheries activities in Quang Tri. Output has grown steadily, contributing to improved livelihoods for local residents.
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