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China's New Entrepreneurs
The Wall Street Journal 01/25/05
by Steven Gray and Geoffrey A. Fowler

For McDonald's and other Western fast-food operators, China is one of the few large economies with lots of room to grow. China's restaurant industry is projected to reach $91 billion in sales this year, nearly double 2001's $50.5 billion, says the consulting firm Bain & Company.  (The U.S. industry is expected to take in about $476 billion this year.) While the U.S. chains face competition from Asia-based chains operating in China, including Shanghai YongHe King Co., controlled by Jollibee Foods Corp. of the Philippines, they see a bright future in the country, where the fast-food industry is widely viewed as being in its infancy.  
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