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People's Daily Online>>China Business

Meetings now a lucrative industry

By Cang Wei (China Daily)

09:13, November 15, 2011

BEIJING - The tens of millions of meetings held across China every year are creating an economic value of nearly 1 trillion yuan ($157 billion).

According to a report released by the Alliance of China Conference Hotels on Sunday, the number of meetings and conventions held by companies, governments, public-funded institutions and social organizations is growing at an annual rate of 20 percent.

"Holding meetings has become a new industry, to which local Chinese governments paid great attention to promote their economies," said Xu Jingsheng, secretary-general of the China Tourist Hotel Association.

The report also shows that meetings held by companies account for 49.9 percent of the total, while those by social organizations account for 13.8 percent.

"China's economic growth gives a tremendous impetus to business conferences," said Wu Shaoyuan, deputy director of the conference hotels alliance, who is also one of the initiators of the report.

"About 220,000 meetings are held in Beijing every year," Wu said. "But many meetings held by governments and public-funded institutions are unnecessary and their number should be controlled strictly."

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