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The history of western-style fast food in China dates back to 1906, when "Yili's Fast Food Shop" (义利快餐厅) was established in Beijing as the country's very first fast food restaurant in the Far East of the Asia-Pacific region. [2]
Such is the cult-like success of these two American fast-food brands in China, a market that's barely been touched by the luster of Arby's, Chick-fil-A, In-N-Out, Five Guys, and other US favorites.
McDonald's (MCD) has always been the worldwide giant of Western-style fast food. As of December 2011, the company had 33,510 restaurants in 119 countries. Whenever and wherever the classic ...
KFC became the first Western fast food company in China after its inaugural outlet opened in Qianmen, Beijing, in November 1987. It was China's introduction to franchising and grew rapidly. The operation was a joint venture, with a 60% stake held by KFC, 27% by the Beijing Municipal Bureau of Culture and 13% by Beijing Food Production. [4]
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The first restaurant opened in 1990 [3] and in 2011, the company had over 300 locations in China. [4] As of 2013 it had 479 restaurants. It sells bowls of rice with meats such as beef and pork. [5] In 2014, China Daily ranked Kungfu as No. 8 in its list of Top 10 Fast-food restaurants in China. [6] Restaurant Interior in Shanghai
The Australian fast food market is valued at more than 2.7 billion GPB and is composed of 1.4 billion fast food meals. This includes meals serviced at 17,000 fast food outlets. The fast food market has experienced an average annual growth rate of 6.5 percent, which is the most rapidly growing sector of the retail food market. [42]
Demand for other types of pre-packaged food has also shot up, with the market for meal kits — food boxes that require simple assembly or cooking — nearly tripling from 10.6 billion yuan ($1.5 ...