date:Apr 10, 2013
Beijing Xiangeqing Co. Ltd., a renowned Chinese restaurant company, will restructure its business by refocusing its customer base after being hit hard by the government's frugality campaign.
High-priced dishes will disappear from Xiangeqing after predicted big losses in the first quarter following the government's drive against banquets at the public's expense, said Meng Kai, chairman with the Shenzhen-listed catering giant.
The company's first quarter performance forecast is for losses of 55