Rapid growth on Burger King's mainland menu
By Jing Shuiyu, China Daily (China)
US fast food chain Burger King Corp aims to open another 1,000 new restaurants in China in three years, in a move to further consolidate its presence in the promising market.
The expansion plan was underpinned by the enormous potential of China's food service restaurant sector, and optimized delivery services will give the industry a boost, analysts said.
Burger King opened its 1,000th restaurant in the Chinese mainland in late December. The landmark outlet, in Shanghai's Qingpu district, is decorated in a stylish, atmospheric and traditional US style.
"It is a milestone, but also a starting point," said Ekrem Ozer, CEO of Burger King (China) Investment Co. He said the company will continue to accelerate its development in the Chinese market, pointing to its target of opening another 1,000 restaurant in the Chinese mainland in the next three years.
The US fast-food giant entered the Chinese mainland market in 2005. In the first seven years, it opened just 52 stores. After 2012, the company entered a period of rapid development, opening one restaurant every two days on average. In the past six years, it opened more than 900 stores.
Jiang Junxian, president of the China Cuisine Association, said China's catering industry grew at an annual average rate of 18.6 percent in the past 30 years, faster than the growth of gross domestic product in the same period.
China is the world's largest market for food service restaurants, ahead of the United States. The country's food service restaurant market is expected to grow at a compound annual growth rate of...