Family inns see huge growth across country

The “family inn” industry has seen explosive growth in China, according to a report released Wednesday by a branch of China Tourism Association. The number of family inns on the Chinese mainland has reached about 200,000, a year-onyear increase of 300 percent, with more than 20,000 such businesses established in the southern province of Guangdong alone, the report said. According to the report, chain stores and a concentration of family inns have boosted the development of regional tourism markets, which in turn increases the value of the inns themselves. China’s domestic tourism industry earned about 3.9 trillion yuan ($589.5 billion) in 2016, and there are plans to raise tourism revenue to 7 trillion yuan by 2020. tistics and Census Service said. Meanwhile, the relative importance of the tertiary sector rose from 92.2 percent in 2015 to 93.4 percent in 2016, in which the share of gaming and junket activities decreased by 0.9 percentage points year-on-year to 47.2 percent, and that of non-gaming services increased by 2 percentage points to 46.2 percent. Though the Gross Value Added of all economic activities in Macao registered nil growth in real terms in 2016, it was a positive sign after declining by 21.1 percent year-on-year in 2015. down sharply by 2.93 percent, to 4103.73, its biggest fall in percentage terms since June 13, 2016. The broader Shanghai Composite Index lost 2.26 percent to 3352.99 points, its worst day since December. exports by container ship from the Pacific Coast province to global markets, FortisBC said on Wednesday. The relatively small shipment of 950 gigajoules of gas, roughly 17 metric tons of LNG, is from FortisBC’s Tilbury plant in the Vancouver suburb of Delta. It was marketed and shipped by Vancouver’s True North Energy Corp and China’s CIMC Enric Holdings Ltd. Because the LNG is being transported by container rather than on a tanker, there is no need for massive export and import terminals. Once the container arrives in China, it can be moved by rail, truck or barge to its final destination, said Calvin Xu, chief executive of True North Energy.