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) In the first six months of 2026, Ha Tinh province continued to implement comprehensive solutions to combat IUU fishing; strictly manage the fishing fleet, control fishing vessels entering and leaving ports, operate vessel tracking devices, trace the origin of seafood, and severely punish violations.
(seafood.vasep.com.vn) Vietnam's tilapia exports reached USD 7 million in June 2026, down 32% compared with the same month in 2025. Nevertheless, thanks to strong growth in the first five months of the year, cumulative tilapia exports in the first half of 2026 totaled USD 69 million, up 67% year on year.
(seafood.vasep.com.vn) Sa Giang Import-Export Joint Stock Company, a member of the Vietnam Association of Seafood Exporters and Producers (VASEP), has been honored with the "Famous Brand - Competitive Vietnamese Brand 2026" certification at an award ceremony organized by the Vietnam Intellectual Property Association (VIPA).
(seafood.vasep.com.vn) China imported nearly $1.4 billion worth of Vietnamese seafood in the first half of the year, a 40% increase compared to the same period last year, surpassing the US to become the largest export market for the industry.
(seafood.vasep.com.vn) As part of Vietfish 2026, the International Seafood Hosted Buyer Program has been designed as a dedicated B2B matchmaking initiative for selected international buyers. The program provides opportunities to meet directly with Vietnamese seafood companies, gain market insights, and experience Vietnam's seafood supply chain firsthand.
(seafood.vasep.com.vn) A Story from Cà Mau’s Coast It’s 5 AM in Cà Mau. Minh, a third-generation fisherman, is ready to set sail. But unlike his father and grandfather, his boat no longer runs on an old diesel engine that burns fuel and clouds the sky with smoke. Instead, it’s powered by a hybrid engine that saves 40% fuel—funded by an ESG program from a major seafood exporter.
(seafood.vasep.com.vn) Vietnam's pangasius industry is shifting its focus from increasing production volume to enhancing value-added products in order to meet the increasingly stringent requirements of export markets. In An Giang Province—the country's leading hub for pangasius farming and processing—businesses and farmers are prioritizing product quality, traceability, food safety, and sustainable development rather than expanding output.
(seafood.vasep.com.vn) Following strong growth in 2025, Vietnam’s tuna exports to Sweden continued to edge higher during the first five months of 2026. However, the picture is far from straightforward. Orders have fluctuated significantly from month to month, indicating that this market remains cautious, with purchasing decisions closely tied to actual demand and the import cycles of Nordic distributors rather than to a steady upward trend.
(seafood.vasep.com.vn) China’s shrimp imports in the first five months of 2026 continued to surpass the same period in 2025, indicating that demand in the world’s largest seafood-consuming market remains strong. However, behind the growth figures lies an increasingly competitive landscape: Ecuador dominates the competitively priced whiteleg shrimp segment, India remains the second-largest supplier, while Vietnam stands out in the lobster segment but still needs to strengthen its advantages through quality, traceability, and reliable supply.
(seafood.vasep.com.vn) Lobster exports to China continued to surge in the first half of this year, putting the lobster industry on the verge of reaching an export value exceeding $1 billion.
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