On January 25th, the 2024 Black Pearl Restaurant Guide revealed its new coveted list of winners at a gala awards ceremony, featuring 341 restaurants from 30 cities around the globe. First-tier cities saw a rise in newly listed restaurants known for their "value for money".
Simultaneously, the "China Fine-Dining Report" was also released, highlighting "value for money" as a focal point of consumer attention. This term means that t price is not the only concern of cosumers, who also have high demands for quality. In other words, it refers to products that offer higher quality at relatively lower prices.
According to data from the National Bureau of Statistics of China, in the year 2023, the catering revenue in China reached 5,289 billion yuan, a year-on-year increase of 20.4%. The annual revenue of the catering industry nationwide exceeded the threshold of 5 trillion yuan, hitting a new record.
With the rapid recovery of China's consumer market and the upgrading of the industrial structure, the demand for food consumption is gradually shifting towards more refined, nutritious, and healthy options. This shift has led to the emergence of more accessible fine-dining restaurants.
It is noted that the Black Pearl list is intended for fine dining experiences, with listed restaurants corresponding to three different diamond levels, among which the highest level is three diamonds.
A total of 341 restaurants from 30 cities around the world have been listed on the Black Pearl list. In 2024, the number of restaurants on the Black Pearl list will steadily increase.
Among them, Guangzhou boasts 19 listed restaurants. In addition to an increase in the number of Cantonese cuisine restaurants in Guangzhou, there are also new entrants from other local cuisines such as Hunan cuisine, fully demonstrating the new trend of Guangzhou's fine dining scene in embracing a diverse range of culinary styles.
According to the China Fine-Dining Report released at the event, the market size of China's fine-dining industry reached a transaction volume of 66.5 billion yuan in 2023, with a year-on-year growth of 12%. The number of fine dining establishments continued to increase, reaching 6,835 in 2023, up 17% year-on-year. However, there was a slight decrease in the average spending per customer, falling from 584 yuan in 2022 to 569 yuan in 2023, a year-on-year decline of 3%.
"Consumers seek a balance between a sense of ceremony and value for money," said Chen Yue, head of restaurant business analysis at the Chinese delivery platform Meituan Dianping. In terms of cities, Guangzhou's fine dining sector has shown impressive growth on a high base of establishments, with a growth rate of 20%.
Looking at the type of cuisine in 2023, Chinese food led other categories with a growth rate of 26%. In terms of mentions by fine dining consumers, "taste and flavor" reached the mentioned rate of 82%, while the value for money accounted for 23%.
"In the future, we aim to inspire restaurants to embrace their essence, to prioritize flavor, to utilize local ingredients, and to concentrate on their business management. Our goal is to encourage more Black Pearl restaurants to enhance the quality and value of their offerings through this renewed focus, thereby catering to a broader consumer base," said Zhang Chuan, Senior Vice President of Meituan.
The list of selected restaurants in Guangzhou:
Three-Diamond Restaurant
广州 白天鹅宾馆-玉堂春暖餐厅
White Swan Hotel - Jade River (Guangzhou)
Two-Diamond Restaurant
广州 广州瑰丽酒店·广御轩 Lingnan House
Rosewood Hotel · Lingnan House（Guangzhou）
广州 好酒好蔡
Howard’s Gourmet (Guangzhou)
广州 跃·Yue现代粤菜料理
Yue · Creative Cantonese Cuisine (Guangzhou)
One-Diamond Restaurant
广州 Rêver·玥
Rêver (Guangzhou)
广州 炳胜公馆（珠江新城店）
BingSheng Restaurant (Zhujiang New Town) (Guangzhou)
广州 炳胜私厨（天河东店）
BingSheng Private Banquet (Tianhe East Road) (Guangzhou)
广州 潮跃
Chao Yue (Guangzhou)
广州 广州柏悦酒店·悦景轩·粤菜餐厅
Park Hyatt Guangzhou ·Yue Jing Xuan · Cantonese Restaurant (Guangzhou)
广州 广州保利洲际酒店·御公馆中餐厅
Poly InterContinental Hotel · Yu Mansion Chinese Restaurant
广州 广州富力君悦大酒店空中花园
Grand Hyatt Guangzhou · The Penthouse (Guangzhou)
广州 广州文华东方酒店·江
Mandarin Oriental Guangzhou · Jiang (Guangzhou)
广州 惠食佳（滨江大公馆店）
Wisca Restaurant (Bin Jiang) (Guangzhou)
广州 客·AKEN’S KITCHEN私房菜（花城大道店）
Aken's Kitchen (Guangzhou)
广州 斯蒂勒Stiller
Stiller (Guangzhou)
广州 岁集院子
Suyab Courtyard (Guangzhou)
广州 天水蔬食料理（东方文德店）
Tianshui Vegetarian Restaurant (Dongfang Wende) (Guangzhou)
Author | Alice, Xuanzhen ZHANG
Editor | Nan, Abby, James
