Yum local unit plans to add 600 new stores a year

Yum China Holdings Inc, which had more than 7,500 outlets in China as at the end of last year, said it has plans to add about 600 stores in the country annually.

Its move comes as rival McDonald's Corp, which agreed to sell a controlling stake in its Chinese mainland and Hong Kong operations last month, said it was adding more than 1,500 stores in China over the next five years, while Starbucks Corp is growing at 500 outlets annually.

Yum China, the Chinese fast-food company that was spun off from its US parent in October, topped earnings estimates in its inaugural quarterly results with the help of its growing KFC chain.