U.S. fast-food giant Kentucky Fried Chicken (KFC) has decided to open its first chain store in southwest China's Tibet Autonomous Region next month.
KFC signed a contract with a shopping mall in downtown Lhasa, capital of the region, to open the first KFC restaurant in Tibet by the end of January, 2016, said Chen Biao, a manager with the Lhasa Shenlishidai shopping center. The KFC restaurant in Lhasa, which is under decoration now, is designed to cover 540 square meters including two stories.
"Before KFC chose to enter Tibet, we already had some fast food restaurants such as Dicos," Chen said."The consumers in Tibet accept fried chicken and hamburgers well." The new KFC will also serve tourists in the city, which is a world-renowned destination, according to Chen.
Meanwhile, KFC plans to build a 4.67-hectare frozen storage area in the suburbs of Lhasa to prepare for further expansion in the region. Tibet's gross domestic product (GDP) hit 92.5 billion yuan (14.5 billion U.S.dollars) in 2014, maintaining its double-digit growth since 1994. The per capita net income of farmers and herdsmen in the region hit 7,471 yuan in 2014, up 14 percent year on year.
The per capita disposable income of urban residents also increased 8 percent year on year to reach 22,026 yuan. Aside from rapid economic growth, market potential and a sound investment environment have made Tibet increasingly attractive to overseas investors.
Latest comments