Philippines' fast food giant Jollibee Foods Corporation has announced plans to acquire a 55% stake in San Pin Wang, a beef noodle chain in Guangxi Zhuang Autonomous Region, for CNY30 million.

Chinese fast food chain Youghe King, currently a subsidiary of the Philippine fast food giant Jollibee, has opened its first chain restaurant in Tianjin.

According to Emesto Tanmantiong, president of Jollibee, the Philippine fast food chain plans to increase the number of restaurants it owns in China to 1,000 in the next five years.

After acquiring YongHe King, Jollibee, the Philippine fast food chain, aims to acquire another Chinese food chain and the company has announced plans to acquire 100% of the equity in the Beijing Hongzhuangyuan porridge store chain for about USD55.5 million.

Yonghe King has announced that the company will enter the Tianjin market.

Philippine fast food chain Jollibee has began trial operation of its Shenzhen restaurant.