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Yum China, being spun off at the end of this month by Yum Brands Inc, says it can triple its number of restaurants. Yum Brands opened its foray into China with a KFC restaurant in Beijing in 1987. There are now more than 7300 KFC and Pizza Hut outlets. “I…
Tech giant Apple will launch its mobile payment system Apple Pay in China by early February, according to a report in the Wall Street Journal. Citing people familiar with the discussions, the newspaper says Apple has reached agreement with China’s four…
Alibaba’s AliPay has received a major boost in its quest to become a generally accepted payment system in the mainland. McDonald’s China has announced it will accept Alipay in more than 2100 restaurants. The launch will commence in Shanghai this month and…
Ecommerce titan Alibaba is forming a RMB 6 billion (US$970 million) three way partnership firm to concentrate on web-connected on-demand providers, resembling meals supply. The JV, referred to as Koubei, is a partnership with its affiliate firm Ant Monetary,…
