(Yicai) Aug. 2 -- Burger King will start selling some of its famed hamburgers at CNY9.90 (USD1.37) each in China, the lowest price in the US fast food chain’s history, following similar moves by rivals KFC and McDonald’s, as competition in the country’s food service market heats up.

Each week a different Burger King burger will be priced at CNY9.90 for the duration of the promotion, which will run from Aug. 5 to Sept. 1, the firm’s China division said.

Now is the time for hamburgers to rapidly penetrate China’s catering market, said Tang Junzhang, chief marketing officer at Burger King China. Western restaurant chains account for less than 3 percent of the country’s food service market.

There is a big gap between the market share held by Burger King and its peers, Tang said. The Florida-based fast food chain does not have enough resources to create a smash product. Therefore it will probably spend more on advertising to lure customers.

KFC and McDonald’s have both lowered the price of their burgers to less than CNY10 since the beginning of the year. In February, Kentucky-based KFC sold coupons in some Chinese cities that allowed customers to buy a burger for around CNY10. And last month, Chicago-based McDonald’s also launched an event for several weeks during which people could buy a burger each day for CNY10 every day.

These days, catering firms are rolling out discounts regardless of their production costs, Tang said. From 2021 to last year, many fast food brands hiked their prices but this year they are cutting them.

Despite an increase in revenue, most Chinese restaurants did not see a rise in profit due to the price wars, homogenous competition and cost pressures, the China Cuisine Association said in June. And the price wars do not appear to be limited to Western fast food chains, but are also taking place in other areas such as hotpot.

Editor: Kim Taylor