The Chinese foodservice industry increased in value from CNY2,332,711.2 million (US$292,918.5 million) in 2006 to CNY3,583,010.9 million (US$555,223.4million) in 2011, representing a CAGR of 8.96% in local currency (see graph below). In 2011, the profit sector accounted for 87.3% of total sales, which represented a value of CNY3,127,327.2 million (US$484,610.6million) and a CAGR of 10.35% in local currency.