Sinopec Group, the Chinese petroleum and petrochemical enterprise group, and Yum Brands Inc., the parent company of KFC, Pizza Hut and many other well-know food brands, have signed a nationwide framework agreement for the joint development of restaurants in China.

The international food and beverage group Yum! Brands Inc. has published its performance results for the third fiscal quarter of 2011, stating that its profit increased by 7.3% during the reporting period.

The chain pizza restaurant Pizza Hut has announced that its 500th pizza restaurant in China has opened in Lanzhou, capital of Gansu province.

U.S. fast food giant Yum Brands Inc. reported recently that its labor and commodity costs in China were likely to increase in the second half of 2010.

Chinese hot pot restaurant chain Little Sheep has announced that its chief operating officer, Yang Yaoqiang, has resigned from the post of executive director and COO for personal reasons.

British retailer Tesco will open Lifespace Mall Qingdao, the largest supermarket development in the city, on December 19, 2009.