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.

According to local media, the four McDonald's restaurants that opened in Olympic stadiums will be shut down in late August as the close of the 2008 Beijing Olympic Games on is on August 24 and the lifespan of these restaurants is only three weeks.

Tianjin Teda Group has signed a contract with Aeon (China) Co. Ltd. to build a comprehensive shopping mall in Teda Promenades, Tianjin.

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.