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Updated: 2004-02-25 09:32
 | | Yonghe King, a well-known Chinese-style fast food chain, on February 24 announced plans to open around 1,000 new restaurants in China in the coming seven years with the financial support from the Jollibee Foods Corporation (JFC), the biggest fast food company in the Philippines. The two parties signed a co-operative agreement on February 24 in Shanghai, under which Jollibee will pay US$22.5 million to buy 85 per cent of Belmont Enterprise Ventures Ltd, the holding company of Yonghe King. [newsphoto] |
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