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.

The international food and beverage giant Yum! Brands plans to acquire an additional 7.3% stake in the Chinese hot pot restaurant chain Little Sheep after taking a stake of over 20% in the company earlier this year.

The international fast food giant McDonald's has announced that following a one year trial in Shanghai, it will launch its 24-hour delivery service in Beijing, Guangzhou, and Shenzhen.

According to the Hong Kong-listed Chinese hotpot restaurant chain Little Sheep, the American restaurant group Yum plans to invest HKD493 million to acquire a 19.99% stake in Little Sheep.

According to a report from Reuters, the restaurant giant Yum is still optimistic about the prospects for China's catering industry and the group plans to open 500 new restaurants in China in 2009 with profit growth targets of 15% to 20%, despite the global slowdown.

Yum! Restaurants China, the brand owner of fast food restaurants KFC and Pizza Hut, says that in the coming year both KFC and Pizza Hut will give priority in hiring job seekers from the earthquake areas in Sichuan.