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(Yicai Global) June 18 -- Chinese fast-food chain Yonghe King, owned by Jollibee Foods, will expand to double the number of restaurants in the mainland within three years.
By December, the number of outlets should be 500 and in three years, it should be 1,000, the Paper reported yesterday.
Currently, the chain, which sells dumplings, noodles, and stewed pork rice, has more than 360 eateries in more than 50 cities, focusing on eastern China.
The company's operations extend from Shanghai to western China's Xinjiang Uygur Autonomous Region, said Zhang Shuhua, president of Yonghe King. The rapid expansion improves efficiency, and will not be limited to certain regions, Zhang added.
Originating from Taiwan province, Yonghe King opened its first mainland outlet in Shanghai in 1995. Filipino food giant Jollibee acquired a majority stake in Yonghe King in 2004.
Editor: Emmi Laine, Xiao Yi